Configure’s M&A practice excels in positioning complex opportunities in the right way, engaging in diligence with our clients and leveraging deep industry expertise to drive the best possible outcome.
Configure Partners Announces Sale of Certain Assets of CMC II
Atlanta, GA — Configure Partners, LLC (“Configure”), a leading middle-market investment bank, is pleased to announce its role as financial advisor to CMC II, LLC (“CMC” or the “Company), for the sale of litigation assets. CMC is a management company for affiliated operators of skilled nursing facilities (“SNFs”), which served ~14,000 residents before the COVID-19 pandemic. Configure and the law firm of McDonald Hopkins, LLC (“McDonald Hopkins”) together, acted as the investment banker in connection with the sale of specific litigation claims of CMC and certain affiliates. Configure and McDonald Hopkins ran an extensive sale process to secure qualified bids in excess of the stalking horse bid provided by non-debtor affiliate CPSTN Operations, LLC.
Joseph Weissglass, a Managing Director at Configure, commented, “Configure’s M&A practice excels in positioning complex opportunities in the right way, engaging in diligence with our clients and leveraging deep industry expertise to drive the best possible outcome. In this engagement, we not only leveraged the team’s experience in healthcare, particularly post-acute care, but we also partnered with the law firm McDonald Hopkins to fully understand the potential claims and potential damages.”
About CMC II, LLC
CMC II, LLC was a part of a group of Consulate Health Care, LLC (“Consulate”) corporate affiliates that managed and operated 140 skilled nursing facilities (“SNFs” and such managed facilities, the “Managed SNFs”). Managed SNF Operators provide various services that include short-term rehabilitation, comprehensive post-acute care, long-term care, and physical, occupational, and speech therapies. The 140 Managed SNFs were under the Consulate umbrella spread across six Mid-Atlantic and Gulf Coast states. Approximately 85-90% of the revenue generated by the Managed SNFs came from government healthcare programs Medicare, Medicaid, or TRICARE for services provided to residents who relied on such programs for their medical expenses.
About Configure Partners (www.configurepartners.com)
Configure Partners is a preeminent credit-oriented middle market advisory boutique headquartered in Atlanta. The firm provides investment banking and financial advisory services surrounding credit and creditor’s rights, providing actionable advice and results-oriented execution. Configure’s Debt Placement practice designs bespoke financing solutions for borrowers to support leveraged buyouts, acquisitions, and dividend recaps, among other strategic objectives. The firm’s Credit Resolutions practice is the trusted advisor to lenders and their borrowers when confronting business, liquidity, or capital structure challenges.
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