client_transactions

SSG Client Transactions

Title

New England Orthotic & Prosthetic Systems, LLC
Client Profile

Client Profile

New England Orthotic & Prosthetic Systems, LLC and its affiliates (collectively, “NEOPS” or the “Company”) was founded in 1998 to create a more “practitioner- and patient-friendly” orthotic and prosthetic company with a focus on the northeastern United States. The Company provides patients with comprehensive orthotic, prosthetic and compression therapy services as well as cranial orthosis. In addition to over twenty branch locations, NEOPS operates a fabrication facility where it manufactures custom products. The Company has steadily expanded its footprint through a combination of new branch openings and acquisitions of competitors in its targeted geographies.
Situation

Situation

Due to constrained liquidity and its adverse impact on operations, SSG was retained in April 2017 as NEOPS’s exclusive investment banker to explore strategic alternatives, including a refinancing of the existing indebtedness or a sale of the Company. SSG conducted an expedited marketing process that resulted in a wide range of interest from strategic and financial buyers. Ultimately, the offer from AHM Healthcare Strategies to acquire the Company’s senior debt provided the highest value to the Company’s stakeholders.
Solution

Solution

After closing the sale of its senior debt, NEOPS filed for Chapter 11 protection in the District of Connecticut, New Haven Division to convert the senior debt to equity control. SSG was re-retained by NEOPS to prepare an enterprise valuation of the Company and assist in the negotiations during the Plan confirmation process. The Plan was ultimately confirmed in February 2018. The transaction allowed NEOPS to continue to operate as a going-concern, save jobs and provide orthotic and prosthetic services to its patients.
February 2018
has reorganized
Under a Plan of Reorganization in the U.S. Bankruptcy
Court for the District of Connecticut,
New Haven Division
The undersigned acted as Investment Banker
to New England Orthotic & Prosthetic Systems, LLC
on this transaction

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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(212) 786-7432

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