Move enhances firm's healthcare and turnaround and restructuring
expertise, making Accordion the premier partner to support
PE-backed healthcare organizations through the entire lifecycle of
the investment
NEW YORK ,
July 16,
2024 /PRNewswire-PRWeb/ -- Accordion, a financial
consulting firm focused on private equity, today announced that it
has enhanced its healthcare offering with the addition of leading
practitioners from ToneyKorf Partners, the turnaround and
restructuring management, and advisory firm specializing in the
healthcare sector, bringing of wealth of experience and expertise
to Accordion.
"Over the last decade, an avalanche of private capital has flown
into the healthcare sector, representing a six-fold increase from
the same period prior," said Nick
Leopard, CEO, Accordion. "The complexities of the sector in
general, when coupled with unique sub-sector nuances, have led to a
growing wave of healthcare organizations experiencing strategic,
operational, and financial challenges, including margin compression
and talent attrition. Some of these organizations are dangerously
close to being distressed assets, while others are simply not
performing to sponsor or board expectations. The result is a
mountain of healthcare companies requiring sector-specific
performance improvement, turnaround, or restructuring support."
Adding sector-leading professionals from ToneyKorf Partners will
enable Accordion to support a full spectrum of PE-backed healthcare
companies. Andrew Hede, senior
managing director and head of Accordion's Turnaround &
Restructuring Practice added: "Accordion has a wealth of experience
helping healthcare CFOs—from providers, to payers, to services
companies—drive value creation through levers including IT
modernization, tech-stack enhancement, RCM automation, cash flow
forecasting, liquidity management and enhancement, performance
visibility, close process acceleration, and supply chain
efficiency. The team joining from ToneyKorf will build upon our
existing healthcare services in addition to expanding our
turnaround and restructuring capabilities in the sector."
The combined expertise of these professionals will enable
Accordion to support PE sponsors invested in healthcare and their
portfolio company CFOs throughout the entire lifecycle of the
healthcare services sector, from deal execution to accelerating
post-closing initiatives, including developing FP&A best
practices, executing sell-side readiness strategies, and creating
and implementing asset stabilizing or restructuring plans.
Mark E. Toney, co-founder and
senior managing director of ToneyKorf Partners, shared similar
sentiments: "We are excited for our people and clients alike and
believe that bringing members of the ToneyKorf team into Accordion
provides new markets and experiences for our people and new
solutions for healthcare clients. We are also pleased to join an
organization that shares our approach to helping clients with
similar values, as well as focusing on the clients and culture for
our people. Like Accordion, we have a team of experts who have sat
in the seats of management and are passionate about their work, and
together, we can leverage our combined strengths and management
skills to drive for the best outcomes."
About Accordion
Accordion is a financial consulting firm uniquely focused on
private equity. Rooted in data and technology, Accordion's
expertise lives at the intersection of sponsors and PE-backed CFOs.
Our team helps drive value creation for clients, with services
supporting the Office of the CFO across all stages of the
investment lifecycle—including foundational accounting, strategic
financial planning and analysis enhancement, CFO-led performance,
transaction support, and turnaround and restructuring solutions.
All of Accordion's services are powered by deep expertise in data
and analytics, CFO-specific technology, and finance-led
transformations. Accordion is headquartered in New York with ten offices around the
globe.
For more information, please visit
https://www.accordion.com/
About ToneyKorf Partners
ToneyKorf Partners, LLC has built a strong reputation as a
results-driven management and advisory firm specializing in helping
healthcare organizations address complex and critical challenges.
Founded in 2012, ToneyKorf Partners serves clients nationally.
Known for its deep industry knowledge and commitment to the client,
ToneyKorf Partners has helped many clients navigate the many
continuously changing and complex issues that the healthcare
industry faces. ToneyKorf Partners provides the highest caliber
interim management and advisory services complimented by a passion
for Making A Difference.
Media Contact
Carrie Kalish, Accordion, 1
9176573155, ckalish@accordion.com, https://www.accordion.com/
View original content to download
multimedia:https://www.prweb.com/releases/toneykorf-partners-team-of-healthcare-turnaround-and-restructuring-specialists-joins-accordion-302196941.html
SOURCE Accordion