Matrix's Healthcare Investment Banking Group is focused on providing independent and objective advisory services to healthcare organizations, both for-profit and not-for-profit, across the healthcare spectrum.
Our dedicated professionals have depth and years of expertise and draw upon their extensive experience working with healthcare organizations delivering:
We handle each engagement with a hands-on approach and are heavily involved throughout every transaction process. In structuring mergers & acquisitions and capital markets transactions, our Healthcare bankers consider the complexities of different regulatory environments, reimbursement challenges, and other nuances that healthcare organizations navigate.
Vasanta is Head of the Healthcare Investment Banking Group. She is responsible for new client development and managing all aspects of client transactions. She advises not-for-profit and for-profit healthcare clients on mergers and acquisitions, valuations, tax-exempt and taxable financings, and strategic advisory, including strategic options and strategic capital planning.
Vasanta has specific expertise with health systems, behavioral health, telemedicine, and ancillary healthcare services. Prior to joining Matrix, she was instrumental in successfully advising on numerous transactions, including serving as M&A advisor on the sale of Achieve TMS, financial advisor on multiple debt issuances by Mayo Clinic, M&A advisor on the acquisition and joint venture of Saint Louis University Hospital, financial advisor on the funding of the replacement hospital project by Essentia Health, M&A advisor on the sale of Glens Falls Hospital’s dialysis business, and financial advisor on multiple debt issuances by WVU Medicine, among many others.
Vasanta has spent her whole career working as an investment banker in the healthcare industry. She was previously a Director in Raymond James’ Healthcare Finance Group, which she joined upon the acquisition of Morgan Keegan, and the acquisition of Shattuck Hammond Partners prior to that.
Vasanta graduated with Honors from Princeton University, where she received an A.B. degree in Anthropology. She is also qualified as a FINRA General Securities Representative (Series 7), General Securities Principal (Series 24), Municipal Advisor Representative (Series 50), Municipal Advisor Principal (Series 54), Uniform Securities Agent (Series 63), and Investment Banking Representative (Series 79). She is currently a member of Chief (a network of executive women leaders), the Association for Corporate Growth (ACG) New York, and the Healthcare Financial Management Association (HFMA).
Casey is a member of the Healthcare Investment Banking Group and is responsible for new client development and co-managing all aspects of client transactions. She advises not-for-profit and for-profit healthcare clients on mergers and acquisitions, valuations, tax-exempt and taxable financings, and strategic advisory, including strategic options and strategic capital planning.
She has spent her entire career working as an investment banker in the healthcare industry. Prior to joining Matrix in 2020, Casey was a Vice President with Edgemont Partners where she provided M&A advisory services to healthcare clients. Casey also previously served as a Vice President in Raymond James’ Healthcare Finance Group. She serves as Co-Chair of the Leadership Council of the Lung Cancer Research Foundation.
Casey graduated from Princeton University, where she received an A.B. degree in Economics and a Certificate in Finance. She is also qualified as a FINRA Municipal Advisor Representative (Series 50), Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).
Barrett is a member of the Healthcare Investment Banking Group. He is responsible for conducting financial and industry research, creating valuation and financial models, as well as providing overall analytical and transactional support on healthcare engagements, including mergers and acquisitions, tax-exempt and taxable financings, and strategic advisory engagements.
Barrett graduated from Johns Hopkins University, where he received an M.S. degree in Finance with a concentration in Econometrics, was inducted into the Beta Gamma Sigma academic honor society and was on the Varsity Baseball Team. Prior to pursuing his masters, Barrett graduated from the Robert H. Smith School of Business, University of Maryland Honors College with a B.S. degree in Finance, was a 2018 Academic All-Big Ten Honoree, and was on the Varsity Baseball Team. He is also currently qualified as a FINRA Investment Banking Representative (Series 79).
Berger & Burrow Enterprises, Inc. d/b/a Dynamic Mobile Imaging (“DMI” or the “Company”) is the largest independently owned provider of mobile x-ray and ultrasound services in the United States with operations in 12 states across the eastern half of the U.S. as well as Washington, D.C.
Founded in 2005 as a family business, the Company continues to be founder-owned and operated.
DMI is a premier provider of portable digital x-rays, ultrasounds, EKGs, holder monitors, echocardiograms and dopplers to patients in skilled nursing facilities, assisted living homes, correctional facilities, universities, and home settings, as well as for sports teams and others who are unable to be transported easily.
In addition, DMI was the first mobile x-ray and ultrasound company to earn The Joint Commission’s Gold Seal of Approval®.
The Company’s shareholders decided to explore their strategic options and consider potential exit opportunities that could reward them for the successful business they had built and reduce their future risk, while also enhancing DMI’s positioning for further expansion across the U.S.
DMI strives to become a leading national mobile imaging provider through sustained expansion into new territories, while continuing to provide patients with expedited, safe and effective care supported by its commitment to superior technology and high-performance standards.
The Company was seeking a buyer that was culturally aligned with its vision and standards of care and able to commit the resources and support necessary to accelerate DMI’s trajectory.
DMI engaged Matrix to provide merger & acquisition advisory services, which included marketing the transaction, advising on valuation, deal structure, and other transaction terms.
Prior to launching the marketing of the transaction, Matrix guided DMI through a sell-side quality of earnings process to ensure that marketed financials were accurate and defendable and to reduce transactional risk later in the process.
Matrix led a confidential, tailored transaction process including both strategic and financial prospects in order to maximize the opportunity for success, given DMI’s objectives and the broader market environment.
Ultimately, DMI sold to True Health Navigation LLC d/b/a DispatchHealth (“Dispatch”), the nation’s first comprehensive in-home medical care provider, to expand and enhance Dispatch’s growing mobile diagnostics service line.
The Montana Children’s Home and Hospital d/b/a Shodair Children’s Hospital (“Shodair”) is the largest not-for-profit dedicated behavioral healthcare services provider in Helena, MT and served patients from 44 of Montana’s 56 counties in 2019.
Shodair offers a robust continuum of pediatric psychiatric care, including 30 inpatient psychiatric beds for children ages 3-18, a 42-bed psychiatric residential treatment facility, therapeutic group homes, outpatient, day treatment, and school-based services.
In addition, Shodair offers the State’s only comprehensive genetics program.
As part of its long-term growth strategy, Shodair worked with a team to design a new facility that would be suitable for the organization’s expanded pediatric psychiatric service lines and level of high-quality care. The new facility design includes 82 private rooms and an environment dedicated to safety, hope, and healing.
Shodair hired Matrix to serve as Financial and Municipal Advisor to develop and implement a Plan of Finance to pay for construction of the new hospital facility.
In assisting Shodair in developing the Plan of Finance, we worked with the Management Team to determine the appropriate level of debt to finance the construction, in addition to analyzing various different potential financing options.
We guided Shodair through the Rating Agency process with Standard & Poor’s and they achieved a BBB- rating with a Stable Outlook.
In conjunction with the working group, we developed a set of financial covenants and manageable continuing disclosure requirements.
Ultimately, through the Montana Facility Finance Authority, Shodair issued $32,735,000 of Series 2020A Bonds on its own credit, in addition to $20,000,000 of Series 2020B Bonds with the support of the Montana Board of Investments.
Overall, Shodair’s all-in cost of capital is 3.41% with a final maturity of 2050.
RICHMOND, VA / BALTIMORE, MD – October 11, 2022 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Green Castle Recovery Centers, LLC d/b/a Sanford Behavioral Health (“Sanford”) on a successful capital raise. Sanford is a residential and outpatient behavioral health provider […]
RICHMOND, VA / BALTIMORE, MD – December 20, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, announces that it has advised Berger & Burrow Enterprises, Inc. d/b/a Dynamic Mobile Imaging (“Dynamic” or “DMI”), on its successful sale to True North Health Navigation LLC d/b/a DispatchHealth, […]
RICHMOND, VA/BALTIMORE, MD – August 6, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce that Amanda Verner Thompson was recently appointed to the Board of Directors for HealthCare Access Maryland (“HCAM”). HCAM’s Board of Directors provides strategic focus and guidance to […]
RICHMOND, VA/BALTIMORE, MD – June 10, 2021 – Matrix is pleased to announce that Amanda Verner Thompson and Vasanta Pundarika have been named to ABF Journal’s 2021 Top Women in Asset-Based Lending. Female professionals from multiple disciplines including, strategic advisors, lenders, private equity, accounting and legal were included in this […]
We sincerely hope that you and your families are well and safe. 2020 will certainly be a year we will always remember. None of us could have imagined all the difficulties we would be facing: a pandemic that spread quickly throughout the world; businesses closed; family and friends unemployed; remote […]
RICHMOND, VA/BALTIMORE, MD – January 22, 2021 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the relocation of their downtown Richmond headquarters from James Center II to Gateway Plaza, effective February 1, 2021. Their new address will be: Gateway Plaza, 800 East […]