Ken Doran has nearly 9,500 followers on LinkedIn. With more than 35 years of experience in the healthcare sector including for the past 15 years as president and CEO of his own healthcare consulting firm, it’s obvious he’s been some places and met a “few” people.
Although Ken started right out of college as a cog in the wheel of a Big Eight accounting firm, he felt drawn to healthcare. He focused on the healthcare sector for two main reasons; “I felt it’s an industry that will always be there, and I felt it would be intellectually challenging and stimulating,” he said. Decades later he concludes that he was right on both counts.
In addition to his role as head of Spectrum Health Partners, a consulting agency dedicated solely to serving healthcare customers, Ken rolls up his sleeves and works on client projects in the areas of Transaction Advisory Services, Facility Repurposing, Wind Down and Closures as well as Interim Leadership and Crisis Management.
In the Transaction Advisory Services area, Ken and his colleagues have completed more than 220 transactions, with none requiring a material adjustment to the settlement, and none resulting in litigation.
In explaining their pristine record, Ken has a simple answer: “We run a very clean process. We pay attention to details. We sit between the buyer and seller and gain the confidence of both parties. The numbers are going to be what the numbers are going to be, and they are going to be right. When we get to that final number, both parties are going to be in agreement.”
Spectrum Health Partners has many repeat customers. “With some of our clients we may have started out with Transaction Advisory Services, and then over the years we’ve done 26 or 27 different types of engagements for them,” he said. “Whether it’s a four-week or a four-year project, we always find the resources and take care of them.”
Ken relies on his vast network of contacts for business, referrals and input. Ken’s sources in banking and legal services tell him they’re anticipating an increase in the buying and selling of hospitals going forward, as well as repurposing, wind downs and closures. Both of these are his particular areas of expertise.
“A number of hospitals and health systems were already struggling before the pandemic and COVID-19 has accelerated those conditions,” he said. “Facilities will be sold, repurposed or closed. That’s going to create transactions that we will help manage for our clients.”
“It’s always a sad circumstance for the community when a hospital closes,” Ken added. “We find those can be difficult engagements. But most of the time, other facilities step up and take that market and provide services for that population. Spectrum makes sure the closures are done in an orderly fashion and the employees and patients are transitioned properly.”
Friendly, engaging, hardworking, highly experienced and savvy, Ken sets the tone for the company. “The reason we’ve been successful in large part, I think, is because we’re honest and sincere, and we don’t oversell,” he said. “We present solutions to clients. We tell them what we do, we’ve got a great track record, and we let them make their decision.”
To learn more, connect with Ken Doran here, call (615) 778-4650, or complete the online contact form.