Prior to filing for bankruptcy, PhyAmerica Physician Group, Inc., a $500 million physician outsourcing firm, provided emergency physician and allied health professional staffing and management to emergency departments at over 200 hospitals in 28 states.

As Chief Restructuring Officer, Protiviti operated the business for nearly two months while overseeing most aspects of the closing process.  We participated directly in the process of securing emergency DIP financing, negotiated the terms of the Asset Purchase Agreement and provided expert witness services.  Additionally, one of our Directors served as interim Chief Financial Officer of PhyAmerica.

Post-closing, Protiviti oversaw the wind-down of the firm and the claims administration, litigation recoveries, tax work, and reconciliations of post sale-related discrepancies.

Protiviti guided the debtor through the completion of the bankruptcy-court approved sale of the assets for $90 million to RDA PhyAmerica Acquisition Corporation.

How we help companies succeed

We have the ability to manage and lead the decision-making process for companies facing uncertain outcomes.  Our professionals have the experience and knowledge to identify the problems as well as the capabilities to assist in making critical decisions quickly to improve a company’s stability. 

In addition to serving as advisor and Chief Restructuring Officer, we have served in the roles of CEO, COO, and CFO.  These experiences allow us to bring a practical but fresh perspective to the situation and enable us to provide current management with unbiased, in-depth analyses of the company’s strengths and weaknesses in order to identify and implement achievable solutions.

Protiviti’s turnaround services include:

1. Right-sizing infrastructure
2. Bank loan refinancing
3. Strategic planning
4. Management or creditor communication
5. Crisis management
6. Financial projections

​Charles Goldstein
Managing Director
+1.410.454.6830
Charles.goldstein@protiviti.com

Protiviti (www.protiviti.com) is a global business consulting and internal audit firm composed of experts specializing in risk, advisory and transaction services. The firm helps solve problems in finance and transactions, operations, technology, litigation, governance, risk, and compliance. Protiviti’s highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for clients in the Americas, Asia-Pacific, Europe and the Middle East.

Protiviti has more than 60 locations worldwide and is a wholly owned subsidiary of Robert Half International Inc.
(NYSE symbol: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index. \r\n