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KENNETH P. DORAN, CPA

Ken-Doran

KENNETH P. DORAN

CPA
PRESIDENT AND CEO

CONTACT INFORMATION
  (615) 715-8947
 (615) 778-4650
 kdoran@spectrumhpllc.com

 

PRIOR EXPERIENCE
Ken began his career with the public accounting firm of Deloitte & Touche before moving to progressive managerial roles in acute care hospital and long-term care institutional pharmacy settings.

 

EDUCATION/AFFILIATIONS
Ken received a Bachelor’s degree in Business Administration (BBA) from the University of Cincinnati, where he was a member of the Co-Op Professional Practice Program. He is a member of his State Society of CPA’s and a member of the Healthcare Financial Management Association (HFMA).

 

SELECTED ADVISORY EXPERIENCE
Due Diligence Reviews
 Turnaround Management
 Crisis Management
 Interim Management
 Operations Management
 Financial Forecasting
 Cash Management

 

INDUSTRY EXPERIENCE
 Acute Healthcare
 Pharmacy, Institutional Long Term Care Pharmacy
 Home Health
 Drug and Alcohol Rehabilitation Companies
 Real Estate Investment Trust’s (REIT’s)

Ken presents insights from over thirty (30) years of experience in a variety of challenging operating and financial roles in the public accounting and healthcare sector. His experience ranges from organizational restructuring to managing organizations experiencing rapid start-up growth. Since 2001, Ken has managed Due Diligence through Final Net Working Capital (FNWC) Settlements on over one hundred and thirty (130) healthcare transactions. In addition, he has regularly served as the Interim CEO and CFO of healthcare clients. With more than two decades of senior management experience in key financial roles in operating companies, Ken possesses the broad technical, managerial, and strategic skill sets required to quickly assess and provide pivotal guidance in any managerial situation. Diverse exposure to different elements of healthcare, primarily in the acute care hospital and long-term care institutional pharmacy settings allows him a rapid level of  understanding when assessing larger, more complex environments such as integrated delivery systems and publicly traded companies.

As the President and CEO of Spectrum Health Partners, Ken is responsible for the firm’s management, which includes sales/marketing, engagement management, accounting, and information technologies.

MERGERS & ACQUISITION EXPERIENCE

  • Transactional support of due diligence, working capital settlements, unfavorable contract reviews, and purchase accounting support for one hundred and thirty (130) distinct transactions with a combined market value in excess of $9.5B
  • Successful in finalizing all purchase/sale transactions without any material adjustments to Final Net Working Capital
  • Successful in finalizing all purchase/sale transactions without arbitration or legal proceedings related to Final Net Working Capital
  • Assisted clients completing purchase transaction with integration and interim management in interim CEO/CFO roles
  • Completed due diligence for a major Academic Medical Center (“AMC”) in their quest to purchase a large multi-specialty group practice
  • Completed due diligence for a Real Estate Investment Trust (“REIT”) in their successful acquisition of real estate, building and equipment of a 3-year old hospital asset located in Austin, TX

RESTRUCTURING, TURNAROUND, & BANKRUPTCY MANAGEMENT

  • Financial and operational restructuring of a privately held healthcare staffing company based in Ohio generating a turnaround culminating in a $150M sale to a large public nurse staffing company.
  • Served as a financial advisor to restructuring professionals in defining turnaround strategy and operating initiatives for a large acute care teaching facility in the mid-South.

CEO/CFO & OPERATIONS IMPROVEMENT

  • Recently served as the Interim CEO of a large Not-For-Profit Hospital based in Nevada. Worked diligently to complete Shared Services/Purchased Services Arrangements with the parent company
  • Leadership of all financial functions of a private long term care institutional pharmacy, tripling net revenue in less than 3 years through internal growth and acquisitions
  • Served as the East Coast Regional Chief Financial Officer for a large public long-term care institutional pharmacy successfully integrating seven (7) acquisitions into a single region

PERMANENT & INTERIM CEO/CFO/COO

  • Served as the Interim CEO of a surgical hospital that was part of a large health system. Role was expanded from 3 months to 12 months and involved a transaction of the 30% physician ownership interest
  • General Manager and Chief Financial Officer of the largest office of a national home care/home infusion company provider based in Chicago, actively managing two divisional operations and 125 FTEs
  • Permanent CFO/COO of acute care hospitals and long-term care pharmacies. Recent experience has focused on Interim CFO roles primarily of acute care hospitals

PUBLIC COMPANY EXPERIENCE

  • Assisted private company with filing Initial Public Offering (“IPO”) in Q4 of 14’. Worked diligently with the company’s General Counsel, outside legal counsel and underwriters to complete all elements of the S-1. Engagement resulted in a very successful IPO filing in October 2014. Priced at $15, opened at $20 and currently trading in mid to upper 30’s

RECENT EXPERIENCES AND TESTIMONIALS

(2013–Current)

 

Interim CFO/Interim CEO/CRO

Initially served as the ICFO of a high volume surgical hospital located in Nevada. Transitioned to the ICEO/CRO role and guided the hospital through a successful transaction with a large Not-For-Profit health system. 2013 – mid 2014.

“I was the Board Chairman of a physician group which managed and jointly owned a highly successful surgical hospital with a large healthcare system when that system initiated an unexpected take over. The surgical hospital CEO departed and the “shared services” plan with the system broke down. System relations with the physicians became tenuous and negotiations stalled. Into that difficult situation, we brought Ken Doran of Spectrum Health Partners to serve first as Interim CFO and then Interim CEO/CRO. He brought clarity of analysis and insight to the problems. He offered wise counsel to the physicians/Health System and earned their trust. He was also a dynamic and an innovative CEO. Employee morale was improved and eventually an equitable transaction between the physicians and the Health System was accomplished. I worked with Ken for over a year and he became a trusted advisor and friend to both the Physicians and Health System.

Dr. Bill Thomas, MD, FACS
Board Chairman
Carson Surgical Group, Carson City, NV

 

Transaction Advisory Services

Has served since 2001 as the Financial Advisor to a large publicly traded company in their acquisition of over one hundred (100) hospitals and the divestiture of over thirty-five (35) acute care hospitals. 2001 – current

“Ken Doran has provided the necessary skills to enable our organization to efficiently integrate into our financial reporting process over one hundred (100) general acute care hospitals that CHS has acquired over the past 15 years. His knowledge base and approach to due diligence is a valuable asset in the acquisition process and his ability to complete engagements in a timely manner has provided our organization with a cost effective solution to the flexibility required in today’s accounting environment. In addition, Ken’s understanding of internal controls and accounting processes and his ability to organize and complete tasks made him a valuable asset to us in completing the documentation phase of Sarbanes-Oxley Secton 404 in a timely and efficient manner. Since 2001, Ken and Spectrum Health Partners has assisted CHS in over twenty-five different types of engagements where their expertise was extremely valuable.”

Kevin Hammons, Senior Vice President – Financial Reporting
Community Health Systems, Inc., Nashville, TN

 

 

Served as the Financial Advisor to a new public company based in Nashville, TN.

Assisted the company with their S-10 filing as they successfully went public in Q3 of 2014. The company is centered in the Substance and Abuse Recovery sector. Q3 and Q4 – 2014

“Ken and his team assisted us in our IPO filing in Q3 2014. My Investment Banking background and their public company experience enabled us to efficiently manage the month-end/quarter-end closings and file timely. Ken and his team were the resource we needed to transition from private to public company–their guidance and knowledge of public companies were critical to our successful IPO. They came onboard and quickly assessed what was needed to be done and then rolled up their sleeves, dug into the weeds and got it done. They easily interfaced with our accounting and leadership teams and delivered on time and on budget. I highly recommend Ken and his team.”

Kirk Manz, CFO
American Addiction Holdings, Nashville, TN

 

Served as the Financial Advisor to a mid-size public hospital management company defining turnaround strategies and operating initiatives in order to achieve greater operating results. Q3—2015

Served as the Financial Advisor to a small hospital in North Carolina that was closed abruptly by a hospital management company. Advised the County Board on alternatives to re-establish healthcare in the community. Q 3—2015

Served as the Financial Advisor of a start-up REIT in their acute care hospital acquisition strategy. Have completed a number of Due Diligence engagements on potential hospital acquisitions. Q4—2014

 

 

Spectrum Health Partners

341 Cool Springs Blvd
Suite 305
Franklin, TN 37067
Office: (615) 778-4650