Michele Haas, Chief Financial Officer - Solaris Health
FTI Consulting parachuted in and, behind the scenes, took care of business, which enabled me to focus on continuing to build the infrastructure of Solaris.
Synergies Realized
Successfully Integrating Acquisitions at Solaris Health
Synergies Realized
Successfully Integrating Acquisitions at Solaris Health
Key Contacts
Integrating at the speed of growth — and creating a playbook for private equity success.
Solaris Health was founded in June 2020 when Lee Equity used the medical service organization to purchase nonclinical assets of two urology physician groups in New York and Ohio, as well as additional acquisitions in six other states. Due to the high volume of M&A activity, FTI Consulting was engaged to help quickly integrate new acquisitions into Solaris Health’s reporting structure.
Our Impact
Eight integrations were completed within four months of the purchase date. Given Solaris’ growth trajectory, FTI Consulting also created a best practices playbook that allowed Solaris’ individual practice finance teams to successfully manage future acquisitions on an accelerated timeline.
In crisis and transformation,real-world experience delivers.
Our Role
A strong partnership across due diligence and post-deal integrations
FTI Consulting was hired to execute a multifaceted scope of services, from accounting and finance integration and transformation services to developing and implementing accounting best practices for both the legacy and acquired companies. By assuming integration activities, FTI Consulting experts allowed Solaris and Lee Equity to focus on their growth strategy.
FTI Consulting managed daily accounting and finance functions and transition responsibilities and served as interim controller until a replacement joined.
Our team performed buy-side due diligence for multiple acquisitions and provided support to Solaris’ finance team on a monthly close cadence, including procedures, budgets and audits.
Experts assisted in successfully converting the accounting of the acquired practices, creating a plan for bank account structures and constructing a cash flow forecast model for financial reporting.
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