AlixPartners Expands Healthcare Practice

Firm hires healthcare veteran Bill Siren

NEW YORK--()--Driven in part by recent national healthcare reform and its far-reaching implications for healthcare providers, insurance companies, managed-care companies, investors and healthcare payors, the global business advisory firm AlixPartners LLP today announced the expansion of its healthcare practice with the appointment of healthcare industry veteran Bill Siren as a director in the firm’s Financial Advisory Services unit.

“The healthcare market today is poised for dramatic and rapid change that will impose new operational and financial challenges for both providers and financial buyers alike,” said Bruce Den Uyl, a managing director at AlixPartners and co-lead of the firm’s Financial Advisory Services practice. “AlixPartners’ healthcare services are designed to help clients identify operational and financial strategies to overcome constraints and achieve high performance in today’s new regulatory environment, including helping resolve complex legal matters. Bill Siren’s addition to our team makes us even stronger; he is an established veteran with managerial experience who has advised a broad range of healthcare organizations and investors on strategy and transactional services.”

Over the past 25 years, Siren has served in managerial and consulting capacities for several healthcare organizations, including hospitals, healthcare systems and physician groups. Before joining AlixPartners, he served as the partner-in-charge of healthcare consulting for Lattimore, Black, Morgan & Cain PC, an accounting and business-advisory firm based in Nashville, Tenn. Prior to his work in consulting, Siren spent 10 years in hospital administration, holding senior management positions at two Florida hospitals.

Working on behalf of both buyers and sellers, Siren has provided strategic- and financial-advisory services on numerous transactions involving health systems and companies, including physician groups, acute-care centers, rehabilitation hospitals, dialysis centers, oncology centers, long-term care centers and surgery centers. He has led due-diligence and valuation efforts on behalf of both large private and publicly-traded healthcare companies, advised private-equity firms on issues related to investments in healthcare entities and provided litigation support on healthcare-related matters. In his career, Siren has worked with nearly 250 hospitals and performed more than 100 valuations specific to healthcare transactions.

“I am excited to join AlixPartners and to work alongside a team of such experienced professionals,” said Siren. “I am looking forward to helping expand the firm’s practice at a time when healthcare organizations and financial buyers such as private-equity firms will have an even greater need for advisory services brought about by legislative change.”

AlixPartners is expanding its healthcare offering at a time when new government regulations and modified reimbursement models are expected to put pressure on profitability for many providers. Those demands could force many organizations to consider strategic options, increasing industry consolidation – a trend that is already playing out in the recent conversions of several not-for-profit hospitals. AlixPartners’ professionals have advised on several of these transactions, including the recent sale of Detroit Medical Center to Nashville-based Vanguard Health Systems Inc., in which AlixPartners represented the Michigan Attorney General’s office.

Over the years, AlixPartners has also served as experts in several high-profile healthcare and life sciences-related litigation matters, performed investigational work at healthcare organizations and prepared extensive healthcare-valuation analyses, as well as served a broad range of healthcare-industry clients in performance-improvement and organizational-turnaround roles. AlixPartners’ professionals have served clients that include, among others, HCA Inc. (Hospital Corporation of America), companies of the Blue Cross and Blue Shield Association, Health Net Inc., Midwest Dialysis Centers, Psychiatric Solutions Inc., Wellmont Health System and WellPoint Inc.

Said AlixPartners’ President of North America Peter Fitzsimmons: “AlixPartners is unique in offering a firm-wide full suite of services to companies, organizations and owners at all stages of the business cycle to help maximize value in the healthcare and life sciences industries. Given all the changes – and uncertainty – in the world of healthcare of these days, maintaining and maximizing value is going to be more important than ever before.”

Note to Editors: On Jan. 26, at 8:45 a.m. CST, at the Nashville Convention Center in Nashville, Tenn., Bill Siren will participate on a panel entitled “Regulatory & Enforcement Issues in Healthcare Transactions” at the 2011 iiBIG Investment and M&A Opportunities in Healthcare Conference, a gathering of key healthcare decision-makers, focusing on strategies and opportunities for healthcare financing and investment.

About AlixPartners

AlixPartners LLP is a global business-advisory firm offering comprehensive services in four major areas: enterprise improvement, turnaround and restructuring, financial-advisory services and information-management services. The firm has more than 900 professionals and 15 offices around the world, and can be found on the Web at www.alixpartners.com.

Contacts

AlixPartners
Tim Yost, 248-204-8689
tyost@alixpartners.com

Release Summary

AlixPartners LLP announced the expansion of its healthcare practice with the appointment of healthcare industry veteran Bill Siren as a director in the firm’s Financial Advisory Services unit.

Contacts

AlixPartners
Tim Yost, 248-204-8689
tyost@alixpartners.com