HEALTHCARE

Accumyn’s experts analyzed a hospital’s economic damages from the additional construction costs and rent paid on an unfinished diagnostic imaging facility. Shortly after the non-profit Texas hospital entered a long-term commercial lease, began construction and ordered the necessary equipment, expansion was halted when the hospital learned that an existing ground lease with the landowner had restrictive covenants in place that prohibited diagnostic imaging and signage rights. The hospital continued to pay rent on the unfinished space, incurred significant construction delay expenses and had to give up the revenue stream it counted on from the planned expansion. Along with lost profits, Accumyn stepped in to analyze construction cost estimates and economic damages associated with the lost use of exterior signage.

Accumyn’s forensic accounting analysis traced funds among two locations of a magnetic resonance imaging (“MRI”) business and its management company. The MRI business allegedly attempted to avoid paying its lease obligations for one of its locations because of poor performance. Each location was a separate legal entity, but they were being managed and operated as a single business enterprise by a management company. One entity was receiving a disproportionate amount of the scanning revenue from its management company, while the other entity was being charged a disproportionate amount of the fixed asset costs for assets that were being shared among the two entities such as computers, printers, software, faxes and telephone systems. Accumyn was able to identify factors such as common ownership, common management, common employees, common record-keeping, centralized accounting, paying expenses for one another, and sharing expenses. Accumyn then prepared a comprehensive analysis of each entity’s books and records including historical transactions, fixed asset schedules, personal property tax renditions, and income tax returns.

Accumyn’s expert provided testimony on the dissolution of a commercial real estate development of a prominent hospital system and management partnership of physicians, based on the minority partner’s claims of breach of contract, breach of fiduciary duties, and other causes of action. The Accumyn team determined the fair value of the partnerships’ carried profit interests in nine joint-venture projects related to cargo warehouses and related office space. Fair value was determined through consideration of the company’s internally developed financial models and subsequent project appraisals.   Additional damages were derived from the expected value of continuing development and management fees.