Exclusive Restructuring Advisor
Project Steward
About the Company
The Company provides telehealth services and personalized care for elederly people.
Exclusive Restructuring Advisor
Situation
Revenue ramped up quickly in early 2023 after the company launched a commercial partnership with a medical device provider. However, poor unit economics led to termination of partnership and also thwarted the company’s nascent capital raise effort.
Engagement
Company counsel recommended the appointment of a special committee of the board to evaluate, negotiate, and approve a proposed sale of substantially all of the company’s assets. The company approached G2 about serving as an independent director. A G2 executive assumed this role and sourced second outside director as well.
Outcome
Over a dozen of the board’s special committee meetings, the G2 executive serving as independent director shared his perspective and scrutinized the terms of the proposed asset sale compared to the company’s alternatives. The committee ultimately voted in favor of the transaction and the company closed the sale.
Deal Team
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