Synergy Health System/St. Joseph’s Hospital
West Bend, Wisconsin
After the board decided to relocate hospital services to a new campus, Irgens was retained to analyze and develop a course of action for the sale and disposition of the former St. Joseph’s Hospital facility. Irgens analyzed the cost of various alternatives for the facility and our team provided a market sale and rental analysis that provided a framework for determining the former hospital’s relative value.
During the analysis, Irgens helped identify a buyer for the facility, Spaulding Clinical Labs, LLC, which was a start-up company that was engaged in clinical research and trials for the pharmaceutical industry. Irgens worked closely with hospital executives to negotiate a sale that was acceptable to both the hospital’s board of directors and Spaulding Clinical’s lenders. The deal structure was supported by Irgens’ market feasibility work which provided the foundation for the pricing and structure of the transaction. Today, Spaulding Clinical Labs, LLC is thriving.
“Irgens attacked the project feasibility analysis with vigor and even helped identify the potential buyer. Their market know-how and experience helped us structure a deal that worked.”