Gainesville Case Study
At the request of the bankruptcy courts, The Hamister Group, Inc. acted as the receiver of a struggling health care facility in Gainesville, Florida.
The 11-story facility was in a wonderful location, across from the campus of the University of Florida, but was struggling. The bank had lost confidence in the owner’s ability to operate the facility. To make matters worse, the facility was on the verge of being fast-tracked for regulatory sanctions.
As such, the bank asked The Hamister Group team to operate the facility independently from the owner.
The Hamister Group, Inc. quickly moved to stabilize the staff and refocus their attention on the areas of the operation which had begun to get away from them. Operational improvements soon followed and the impending regulatory issues were appropriately addressed.
After approximately one year, the facility’s coverage ratio improved from 1.05 to 1.15, and the bank saw improved financial performance as well.
To talk about how we can help you, contact Dan Hamister, our Senior Vice President of Business Development at DMH@HamisterGroup.com or call (716) 839-4000.
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