Service Area: Interim Executives
Client Type: Lower-Middle Market Private Equity Firm
Service Provider Type: Interim CFO
Industry: Healthcare Services
A lower-middle market private equity firm sought BluWave’s expertise in interim executive searches to assist one of their portfolio companies in the healthcare services industry. The company provides physician management and cancer center development services to hospitals and physician partners.
Following a significant acquisition, the business experienced rapid growth, but its current management team struggled to keep up with the complexities of the expanded operation. While not a turnaround situation, the firm acknowledged the need for stronger leadership to navigate the evolving landscape.
The healthcare services business encountered challenges due to its accelerated expansion. The existing CFO lacked the visibility and expertise required to manage the finance function effectively. The company’s legal structures and numerous add-ons further complicated reporting and forecasting.
To address this, the firm sought an interim CFO to get its financial house in order, provide professional guidance on forecasting and optimize financial operations while they conducted a search for a permanent CFO. Additionally, they faced the task of hiring a new CEO, further necessitating competent leadership to ensure a seamless transition.
BluWave promptly connected the lower-middle market private equity firm with a highly qualified Interim CFO possessing extensive experience in managing complex financial structures within the healthcare industry. The chosen executive had a proven track record of driving financial visibility and establishing robust forecasting processes.
Their expertise in reimbursement models and joint ventures made them an ideal candidate to guide the business through its rapid-growth phase. Moreover, the Interim CFO’s understanding of the intricacies of healthcare services facilitated the organization’s ability to make sense of vast amounts of data and derive meaningful insights.
The appointed interim CFO swiftly assumed responsibilities, bringing much-needed organization and professionalism to the company’s finance function. With their guidance, the business gained improved financial visibility, allowing for informed decision-making during a critical growth period.
During the CFO search process, the Interim CFO’s contribution proved invaluable, providing financial leadership and maintaining the firm’s stability. Additionally, they collaborated seamlessly with the newly appointed interim CEO, ensuring a smooth transition.
The healthcare services business came out better equipped to manage its current growth trajectory and address future opportunities with confidence.