California Proton Treatment Center

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Chief Restructuring Officer

San Diego, CA

Operates a 100,000 square foot, freestanding, state-of-the-art proton therapy facility with three gantry and two fixed beam rooms w/ pencil beam scanning technology

Center was developed as part of a national network of Proton Therapy Centers. The Center failed to achieve the utilization assumed in the financing models and as a result operating for years without ever achieving break-even free cash flow until ultimately filing for bankruptcy with $180MM+ in debt

Key Challenges
Limited Liquidity 
Bankruptcy Sale
Under Utilization of Assets

Engagement Highlights

  • Served as Chief Restructuring Officer, managing the facility and the Company who owned the Center, and oversaw a financial and operational restructuring which resulted in the sale of the center to the Senior Lenders through a 363 sale 
  • Direct involvement in providing the relevant financial and operating data required to support the day-to-day management of the Center plus support the sale process
  • Responsible for the non-medical aspects of the Center and for interfaced with key employee groups, including physicians, IT, maintenance, equipment vendors, etc., all of which were contracted with by the company. 

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