Client
A multi-location private outpatient and diagnostic healthcare business, operating across imaging and specialist-led clinical services, with revenue scaling from $11.6M to $20.2M over four years
Problem
Financial reporting lagged by over a month, the audit was running nine months behind, and results were presented on a consolidated basis with no visibility into performance by clinical service line. Leadership could not explain where margins were being generated or lost, and capital decisions were being made without a defined return model. Despite growth, the business was not in a position to access external financing.
Services
Ongoing Virtual CFO engagement to rebuild the financial function, implement service line and management reporting, and establish disciplined budgeting, forecasting, and cash flow processes. The mandate included restoring audit integrity, strengthening receivables management, and building a scalable operating and capital planning model.
Results
- Revenue scaled from $11.6M to $20.2M
- EBITDA improved from $0.6M to $2.2M
- Normalized EBITDA exceeding $3M after group overhead and non-recurring adjustments
- Reporting timelines reduced from 45 days to within 10 days of month-end
- Audit delivery brought forward to early April each year
- First institutional financing secured, funding clinical expansion
