MNG Health



Financial Advisor

Charlotte, NC

A healthcare communications company facilitating clients with direct marketing and communications to healthcare practitioners.

MNG Health is a leading healthcare communications company with 20 years of experience successfully engaging healthcare professionals (HCPs) through peer-to-peer, personal and non-personal programs. Primary outreach to HCP’s is through e-mail, direct mail, product specific training programs, sales representative support materials and online information hubs.  Client based primarily exists of the major pharmaceutical manufacturers

The Company’s financial performance had stagnated and declined in recent years. Significant turnover in the executive team and the sales team resulted in instability and lack of strategic direction. Sponsor was not willing to funding liquidity need and agreed to a change of control with the Senior Lenders.

Key Challenges
Under performing financial results
Liquidity shortfall
Balance Sheet Restructuring

Engagement Highlights

Advised the senior lenders on key issues around a balance sheet restructuring where the senior lenders converted the majority of their debt into full ownership of the Company, critical issues we focused on included;

  • Advised the Senor Lenders on various balance sheet restructuring options, including the selected path of an Article 9 Foreclosure Sale
  • Evaluated the accuracy of the Company’s 13-week cash flow forecast and independently assessed the short-term liquidity needs of the business
  • Performed an assessment of the Company’s financial projections and liquidity outlook, providing third party viewpoint on funding need and key opportunities and risks to plan
  • Quantified the existing order bookings + backlog to assess the financial projections for the current year plus assessed the “go-get” initiatives and assessment of operational practices
  • Negotiated a “NewCo” Management Incentive Plan with the Company executives and the Senior Lenders

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