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Healthcare

HealthCareCentury Healthcare Corporation. Kevin took over as President of a Tulsa based chain of 12 child and adolescent psychiatric hospitals in 7 states, with over $100,000,000 in annual revenue and almost 1,000 employees.  At the time Kevin took over, the Company was in a distressed situation. He made significant organizational changes that resulted in several hundred layoffs, hospital closures, sale of assets, and debt and equity restructuring.

"There are those who don’t know and those who don’t know they don’t know.”

—John Kenneth Galbraith

He also facilitated centralized collections of insurance and corporate payees and an overall restructuring of IT that reduced by 50% the DRO (Days Reconciled Outstanding).  He subsequently developed several exit strategies for the owners and ultimately negotiated the sale of the Company to Columbia Hospital Corporation/HCA at a significant profit, simultaneously relieving the owners of almost $50MM of debt guarantees.


Health Finance, LLC. Kevin formed Health Finance with two other financial partners to purchase a group of operating child and adolescent psychiatric facilities located in Houston, Phoenix, Tulsa and Oklahoma City.  They purchased the notes from the New York bank, and took over the company. These hospitals were operated on a short term basis and then re-sold on a very profitable basis to healthcare companies with child and adolescent operations in those markets.  Kevin was responsible for financing and acquisition/disposition transactions and was involved with operations performed by on-site management in these markets.

Linen KingsLinen King, LLC.
Kevin and two operating partners purchased a financially troubled commercial laundry operation in the Tulsa area from ServiceMaster, a Fortune 500 company, and utilized this turnaround operation as the foundation for forming a chain of successful commercial healthcare laundries.  The company specializes in healthcare linen, and has a current capacity in excess of 50 million pounds per year.  They currently serve over 40 hospitals, and have expanded an average of over 50% per year for the past 5 years.  In 2005 they built a state of the art 30,000 square foot facility in Oklahoma City. The Company has since acquired two (2) hospital based laundries in Arkansas, and recently built a 50,000 square foot facility in Columbia, Missouri to serve hospitals in Kansas City and St. Louis, as well as numerous secondary cities.

“Continuous effort - not strength or intelligence - is the key to unlocking our potential”. Winston Churchill

The Company’s goal is to establish additional operations in other cities, either though greenfield start-ups, acquisitions, or mergers. They intend to continue a regional acquisition and development strategy and expect to grow to $40MM in the next 3-4 years.  Kevin's two operating partners run the business; he serves as Chairman of the Board. He is involved in the financial, legal, strategy, marketing, and policy areas of the business, and is charged with acquisition and investment responsibilities as well as construction and retrofit activities. Black Gold led the sale of 85% of the Company to Clairvest, a $3 Billion Canadian Private Equity firm that made an unsolicited offer to buy the operations in 2011. After Clairvest determined the operations were not a fit for a platform to perform linen services for their large portfolio of casino and hotel operations, the Company reaquired its stock in 2015. Mr. Jordan remains on the board of directors. Thelinenking.com

Virtual Innovative Practice Systems (VIPS). VIPS is a dental practice model designed to respond to the current practice trends of specialization, consolidation of overhead, and the industry acceptance of mobile practitioners.  VIPS is building on the practice model of and outstanding dentist that has built an extremely lucrative mobile practice focused exclusively on IV sedation and extractions in Dallas over the last 20 years.  Most general practitioners no longer are comfortable doing other than the basic extractions, and are not licensed for IV conscience sedation.  Black Gold has been retained to assist VIPS, and Kevin will serve as the initial CEO to build a delivery system similar to a franchise concept around licensing, training, and service delivery. Kevin will then seek to replace himself with an industry-based leader from the dental or medical marketing field.

The business model will take a young dentist that is proficient at extractions, get him or her licensed in IV conscious sedation, and provide all the training and systems to put them in business in their locale and support them long term, including a proprietary software support system (VLINKS) that will operate on an I-pad protocol. VIPS had five (5) dentists in various locations around the country as of the end of 2010, and expects to grow to 100-plus professionals over the next 5 years.  Growth will also come through expanding to other specialties. The business will do a major launch and market entry in 2011. http://tntclients.com/cms/published/vipsdental.com/


Service King. An affiliate of the Linen King Companies, Service King was formed for the purpose of marketing janitorial, distribution, and housekeeping services to major hospitals and medical centers.  This company operates in Oklahoma and Arkansas.

Retirement Facilities, Nursing Homes. Black Gold has facilitated the financial turnaround and stabilization of three retirement facilities in Oklahoma and Arkansas, including the 300 resident University Village formerly associated with Oral Roberts University and Greentree, a newly built facility in Sand Springs, Oklahoma. These involved equity capitalization, physical plant rehabilitation, licensing and environmental issues, and restructuring with Banks. In one instance, Black Gold facilitated the sale and transfer of licenses to a new buyer. These facilities including the entire continuum of care, ranging from independent living, assisted living, and skilled nursing homes.

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