Westchester General Hospital acquired by Sanitas

  • Background:Westchester General Hospital, Inc. (“Westchester”), founded in 1967 and based in Miami, FL, is a 125-bed, family-owned acute care hospital providing quality, patient-centered care.  Westchester also helped develop a graduate medical education program that has trained hundreds of physicians who serve across the nation.
  • Cassel Salpeter:
    • Served as financial advisor to the Company
    • Conducted a robust sales process, identifying and contacting over 100 strategic and financial parties
    • Successfully identified an international buyer that was looking to expand their footprint in Florida
  • Challenges:
    • Distressed operations with negative cash flow
    • Ensuring a smooth transaction while dealing with the negative impacts of the COVID-19 pandemic
    • Navigating the ever-changing Paycheck Protection Program  and CARES Act guidelines relating to mergers and acquisitions
  • Outcome: In October 2020, Westchester was acquired by Sanitas USA, Inc. a subsidiary of Keralty SAS, an international health enterprise leader in patient-centered care and health outcomes.

Moviefone Assets sold to Born In Cleveland, LLC

  • Background:  Moviefone, a subsidiary of Helios and Matheson Analytics, Inc., is an entertainment information and marketing service that delivers movie showtimes, trailers, TV schedules, streaming information, cast and crew interviews, and editorial coverage.
  • Cassel Salpeter:
    • Served as financial advisor to the Company
    • Conducted a robust sales process, identifying and contacting a broad set of strategic and financial parties
    • Provided assistance throughout all phases of the Chapter 7 Section 363 sales process, due diligence, and auctions
  • Challenges:
    • Moviefone was losing value over time due to limited attention and resources; the assets needed to be sold in a short time frame in order to preserve value
    • Limited information and resources available at the Company
    • Maximizing the value of the estate during a global pandemic
  • Outcome:  On March 19, 2020, the court approved the sale of the Moviefone assets to Born In Cleveland, LLC.  Additional assets were also sold as part of the bankruptcy sales process.

Q3 2020 Healthcare Investment Banking Report

Aviation Deal Report Q3 2020

Q3 2020: Tech Deal Report

Q2 2020 Healthcare Investment Banking Report

1H 2020 Florida PE Deal Report

Aviation Deal Report Q2 2020

Q2 2020: Tech Deal Report

Q1 2020: Tech Deal Report