The Chicago/Midwest chapter of the Turnaround Management Association recently announced that SAK Healthcare has been selected as the winner of its 2022 Small Transaction of the Year award. SAK Healthcare together with its strategic partners Greenberg Traurig and RBC Capital successfully took over a Ohio-based portfolio of skilled nursing and assisted living facilities in receivership. The troubled portfolio was one of the victims of a $59 million check-kiting scheme orchestrated by one of the portfolio’s owners, who was indicted and subsequently convicted. Through joint efforts of the team, SAK Healthcare led the revitalization of the facilities, boosting staff morale, and improving both resident care and asset value through improved capture of clinical services throughout an unprecedented and historic pandemic. The portfolio was ultimately marketed and sold to a local group for a final transaction value well above the asking price of the enterprise.
Suzanne Koenig, Founder and CEO of SAK Healthcare, commented that “We are honored and pleased to be recognized by our peers for our work in this transaction. Our team possesses a broad experience in not only healthcare but also many other areas such as finances, operations, regulatory compliance, strategic planning, and personnel management that allows us to provide our clients with exceptional outcomes.”
Ms. Koenig reiterated that “while at the end of the day we need to deliver superior financial results for our clients, our primary concern has been and always will be ensuring that residents and patients in facilities we manage receive the highest standard of care at all times.”
The SAK team was honored at the 14th Annual Executive Speakers Forum on November 17 in Chicago. More information is available at www.sakhealthcare.com or www.turnaround.org.