ALMA MATER
Institute of Chartered Accountants of England and Wales, ACA (Also JIEB certified)
Nottingham University (UK), BEng
Jim is a Senior Managing Director in Accordion’s Turnaround & Restructuring Practice. He has 30 years of experience working with clients across multiple industries but has focused on healthcare for the last 15 years. He has a broad range of experience in helping organizations solve problems involving the complicated interactions of business processes, workforce and regulatory matters. Jim has worked in the UK and the US in both formal (e.g., Chapter 11 bankruptcy) and informal (e.g., workout) situations.
In addition to his C-level advisory experience, Jim has served in management capacities as Chief Financial Officer and Treasurer at a number of distressed hospitals.
Before Accordion, Jim was a Senior Manager at ToneyKorf Partners, where he was involved in numerous situations involving merger activity with distressed hospitals. Prior to his tenure at ToneyKorf, Jim was a Principal in Grant Thornton’s Restructuring practice, where he was responsible for all aspects of the
client lifecycle, from relationship development through the execution of complex, transformational initiatives that drove significant operational improvements for his clients.
Jim’s consulting career has spanned numerous industries including healthcare, manufacturing, and telecom. Jim enjoys helping clients navigate uncertainty and has a track record of success in solving problems. A sampling of Jim’s turnaround and restructuring experience includes:
- US National Whitewater Center
- World’s largest manmade whitewater center based in Charlotte, NC
- 2 other restructuring professionals had been involved, with little to no meaningful improvement
- Investment from 5 local city and county governments, 2 banks, and over 30 individual investors
- Jim prepared detailed business plan and lead talks around an actionable restructuring proposal linking performance to repayment
- Banks able to benefit from upside performance
- National Amusements
- Parent company of CBS and Viacom, controlled by the Redstone family
- Debt covenant issues arose following stock market collapse in 2008
- Hired by bank syndicate as financial advisor
- Perform historic cash flow analysis to identify sources and uses of cash
- Able to identify location of cash from recent asset sales not disclosed by companyReviewed and sensitized company projections in relation to revised covenant requirements
- Assisted in consensual negotiations with bond holders and family members
- Brookdale Hospital
- Struggling 530 Bed Hospital providing comprehensive inpatient services to the critically underserved population of East New York.
- Served as the CFO during its separation from a poorly performing system, advising and updating the Board during the separation process
- Developed and executed on the concept to integrate Brookdale with 2 other hospitals to form One Brooklyn Health
- Worked with government representatives to develop novel Medicaid payment plans to increase patient revenue and reduce reliance on State grant support