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.
