Robert Mattix is a managing director in the FTI Healthcare group of the FTI Corporate Finance practice and is based in Brentwood. Mr. Mattix has 14 years of experience in the healthcare industry. He uses his operational and financial expertise to implement complex improvement initiatives and assess strategic options for FTI Healthcare clients. Mr. Mattixs expertise also includes project management; operations improvement; financial assessment; financial modeling; bankruptcy and insolvency; creditor relations; physician practice management; diagnostic service development; debt covenant reviews; hospital and physician practice acquisition and disposition; and hospital productivity evaluation. From tracking performance improvement to modeling expansion potential or coordinating sale and divestiture processes, Mr. Mattix has assisted independent not-for-profit hospitals, for-profit physician management companies, large urban teaching hospitals and integrated delivery systems in achieving and surpassing their goals. He often utilizes his organizational and management skills, both onsite and offsite to provide support and coordination to the project. Mr. Mattix develops and delivers high impact presentations, communicating complex issues in a concise, informative and persuasive manner. Recently, Mr. Mattix has assisted a private college of medicine with $1.2 billion in annual revenue through an intensive performance improvement initiative. During his oversight tenure, he facilitated the design and implementation of more than a dozen financial and operational improvement projects that improved the colleges financial performance by more than $60 million (or 5% of revenue) annually. Mr. Mattix was instrumental in achieving an incremental $15 million in annual revenue improvement from its faculty group practices healthcare service billings and over $45 million from a myriad of other operational improvements designed to enhance financial performance while preserving mission focus in the clinical, research and teaching arenas. During this project, he served as the budget planning architect and thought-leader in devising an alternative method for the distribution of unrestricted funding to departments and programs based on measureable outcomes criteria for the upcoming fiscal year that will seek to capture an additional $30 million in improvements annually.Mr. Mattix served as a Consultant to a County struggling to restructure over $4 billion in public debt and balance its General Fund operating budget following the loss of over $70 million in annual revenues. He evaluated the Countys departmental budgets and structures; identifying immediately implementable revenue and expense improvement options available balance the budget.Mr. Mattix served as the lead Financial Advisor to a 4 hospital integrated health system facing earnings deterioration and a liquidity crisis. He established a cash management protocol to stabilize liquidity and created a rolling 13 week cash flow projection. He reopened discussions with the creditor constituencies and expanded the project to include a complete operational assessment and turnaround plan development.For a 4 hospital inner-city hospital system in crisis, Mr. Mattix developed daily cash flow reports and 13 week projections. He worked with insolvency counsel to prepare the organization for a chapter 11 filing. He participated in negotiations with three prospective purchasers and oversaw due diligence efforts. He analyzed the liquidation value of the organization and estimated the recovery waterfall by claim status and priority.For a three hospital district in chapter 9 bankruptcy, Mr. Mattix worked as the Financial Advisor to a consortium of bank groups holding secured debt exceeding $80 million. The turnaround plan for the system ultimately required the sale of all hospital operations; providing the bank group with a par plus accrued plus expense recovery.Mr. Mattix served as the Financial Advisor/Chief Restructuring Officer to a non-profit community hospital. He evaluated the recovery options and ultimately maximized the enterprises value through court oversight of the asset sales, free and clear of liabilities; allowing for the ongoing mission of the organization.For a two-hospital system in bankruptcy, Mr. Mattix worked as a Financial Advisor to the official committee of unsecured creditors. He monitored the financial performance of the organization and created a weekly tracking vehicle for the critical performance indicators. He participated in mediations with the secured creditors and facilitated the enhanced recovery to the unsecured creditors by 300 percent.For an integrated delivery system, Mr. Mattix performed financial and operations analyses; monitored productivity; tracked EBIDA improvement plan progress; coordinated the asset marketing, due diligence and sale process; and provided post-sale organization wrap-up. For a large, for-profit physician management firm, Mr. Mattix evaluated the existing and proposed business plan. He designed and implemented an organizational restructuring and force reduction. He worked with the management team to prepare the organization for a Chapter 11 filing. He modeled the financial performance of the existing portfolio and evaluated its liquidation value. He participated in divestiture negotiations and asset dispositions.For a large, urban teaching hospital in default of its debt covenants, Mr. Mattix evaluated and projected the impact of the management teams improvement initiatives on the financial performance of the organization. He developed a model to incorporate the improvement plan into the hospitals existing budget and, using this model, evaluated the influence of multiple variables on the success or failure of the improvements plans. This analysis assisted the management in negotiating a forbearance agreement with the secured creditors by establishing specific quarterly criteria for monitoring improvement.For a rapidly growing community hospital, Mr. Mattix assessed the global performance of the organization and evaluated a proposed facility expansion project. For a county hospital, Mr. Mattix provided project management and coordination for a complete assessment of the declining organization. He reviewed the senior management teams effectiveness and made recommendations to the board chair. He compiled and edited the final report and developed the board presentation materials. For many other hospitals or health systems, Mr. Mattix has participated in operations and financial assessments, often serving in the roles of restructuring advisor and project manager, providing final report development and delivering the board presentation. Mr. Mattix joined FTI when it acquired Cambio Health Solutions in June of 2005. He had been with Cambio since 1995. His previous healthcare experience includes serving as the regional vice president of operations for a primary care physician practice management firm, as the project specialist for a national hospital marketing firm and as an operations consultant for a state governors office of finance and administration. He holds a M.B.A. in management from Middle Tennessee State University and a B.A. in economics from DePauw University. He is a member of the Association of Insolvency and Restructuring Advisors and the Turnaround Management Association. He is also a certified insolvency and restructuring advisor and a certified turnaround professional.
Like what you see? Make sure you're getting it all
Independent and authoritative analysis and perspective for every segment of mergers and acquisitions.