Situation

Elevate experienced challenges over the past several years stemming from a combination of underperforming acquisitions and the operational unsustainability brought on by COVID‑19. The Company rapidly acquired multiple acquisitions, then moved to integrate them into the broader platform. At the same time, the Company capitalized on the COVID environment and grew significantly. As COVID wound down, Elevate experienced a sharp revenue contraction, most notably the loss of a specific healthcare customer, tied to daily COVID testing and national viral surveillance. This left the Company with an unsustainably large fixed‑cost base.

The combined impact of these factors drove sustained margin compression, elevated overhead, and prolonged operational strain. 

Engagement

G2 Capital Advisors (“G2”) was engaged by the Lenders to conduct a Phase 1 Assessment as the Company’s liquidity was becoming tight. G2 analyzed the 2026 budget, revenue opportunities, sale strategy, pricing, technology, organizational structure and management capabilities. 

Outcome

After completing a thorough assessment of the Company’s viability, G2 presented a report to the Lenders focused on key operational and liquidity issues and recommended next steps. Since the presentation of the report, the Company and the lenders have been negotiating a comprehensive solution to address all stakeholder’s concerns and put the business back on a viable path forward.