Gain Control of Underperforming Assets With SCALE’s Turnaround & Restructuring Program

Building modernized healthcare delivery platforms that yield better results

SCALE Is Positioned to Improve Results Across the Entire Spectrum of Underperforming Asset Management

Unlike traditional restructuring firms, SCALE offers a dynamic

platform that melds technical restructuring expertise with

leading healthcare management advisory, execution &

fully-managed services.

Gain command over weaker portfolio company performance

through SCALE’s underperforming asset turnaround &

restructuring services.

▪ Preliminary Assessments

▪ “Early Intervention” Turnaround Execution

▪ Traditional Restructuring Services

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Effectively Managing Underperforming Assets Takes a Coordinated, Multidisciplinary Approach

Restructuring Team

Core Operations Team

Clinical Specialty Team

SCALE’s Healthcare Services Platform Combined with Turnaround & Restructuring Expertise Offers A Complete Business Solution

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SCALE’s healthcare services platform is designed

to enhance results across the diverse range of

domains that contribute to aggregate performance:

facilitate performance clarity; gain an expert

second opinion on strategic alternatives;

enhance on-going execution.

Advisory

Project Management

Execution Oversight & Leadership

Interim Leadership & Fully Managed Services

SCALE Turnaround & Restructuring

Core MSO Operations

Core Clinical Operations &

Ancillary Services

Site-of-Service Management

Clinical Specialty

Management

Healthcare & Restructuring Domain Experts Present Management, Board & Lenders With Preliminary Strategic

Outlook Findings

▪ Historical & projected financial performance

▪ Cost savings & underperforming site / service line restructuring opportunities

▪ Strategy, growth & development plans

▪ Market positioning

▪ Scope of clinical & ancillary services

▪ Team & operational infrastructure

▪ Broader specialty market trends & considerations

Efficient Assessment Process

▪ Engagement of only seasoned domain experts

▪ Assessment delivered within 1-4 weeks

▪ Recommendation report – access to SCALE’s team of domain experts

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Evaluation: What Key Opportunities

& Concerns Should We Focus On?

Prioritization: How Should We

Sequence Execution?

Market Positioning: How Do We Build

Defendable Equity Value?

Preliminary Assessments: Efficiently Define & Prioritize Value Enhancing Objectives

SCALE’s tailored turnaround teams have proven track records working on behalf of, and side-by-side with,

management teams, Boards, sponsors and lenders to augment execution wherewithal and performance.

SCALE integrates restructuring expertise into Early Intervention Turnaround Execution teams to complete

preliminary restructuring strategy development & contingency planning simultaneous with efforts to redirect the

Company’s standalone performance.

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“Early Intervention” Turnaround Execution: With Early Intervention and Sufficient Planning & Resources, Many Assets Can Avoid Formal Restructuring Processes

Illustrative SCALE “Early Intervention” Turnaround Team

SCALE Clinical Services Advisory SCALE Operations & Management

Core

SpecialtyPathology Radiology

Pharma Infusion

Payor

Strategy HR Finance

ITRevenue

Cycle Marketing

Executive /

Board Advisor

Analyst

SCALE

Restructuring

Capital

Restructuring

Business

RestructuringASC

Business model / plan & financial forecast – deep dive

due diligence.

Evaluate the Company’s strategic restructuring

alternatives & assess projected lender recovery rates.

Analyze restructuring plans & scenarios prepared by the

Company.

▪ Projection models

▪ Cash flow forecasts

▪ DIP budgets

▪ Credit agreement advisory

Represent creditors in negotiations with debtor and

debtor advisors.

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Creditor Advisory

Traditional Restructuring Services: Approach Formal Restructuring Processes with Confidence, Empowered by Proven & Practical Restructuring Expertise

Debtor Advisory

Evaluate the Company’s current liquidity profile & cash

position.

Reassess business plan & develop strategic

alternatives.

▪ Out-of-court vs. Chapter 11 bankruptcy

▪ Develop viable plan of reorganization; obtain creditor buy-in

▪ Bankruptcy preparation

Establish communication protocols with key

stakeholders, including the Company Board and its

lenders.

Represent debtors in negotiations with creditors and

creditor pool advisors.

Fully-Managed Services.

▪ CRO

▪ Interim CEO

▪ Interim CFO & Controller services

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Leverage SCALE’s Platform to Tackle Execution in a Manner That Best Aligns With Project-Specific Needs

Your Turnaround /

Restructuring Team

Restructuring

Frank Turner

Restructuring

David Friend

Financial Systems

& Controls

Richard Veltre

Project Specific

Clinical Executive

Project Specific

Ops Executive

Advisory / Light

Execution Support

Heavy Execution

Support

CRO / Interim

Management / Fully

Managed Solutions

Dynamic Range of Utilization Models Tailored to Best Achieve Tangible Results

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Physician Groupengagements

Our partners represent a broad network

Providers across our partners

States our partners operate across

Service line andoperational solutions

offered by SCALE

24 1,433 18 54

Healthcare companiesfounded by our team

Exits from healthcarecompanies our team

has led

Healthcare c-suite rolesour team has held

Healthcare private equity funds our team has advised

(operating partner)

41 31 116 33

Our team’s extensive and diverse expertise

SCALE Physician Group at a Glance

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SCALE Partners

*Completed engagement

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Select Turnaround & Restructuring Experience

Select Lenders SCALE Has Worked With To-Date

Select SCALE Turnaround & Restructuring Engagement Experience

Pharma / Infusion

Texas

Women’s Health

New York

Multispecialty

Texas

Multispecialty

California

Select Prior Restructuring Experience

Power Equipment Distributor

New Jersey

Retailer

New Jersey

Oil & Gas E&P

Oklahoma

Precision Manufacturer

New Jersey

Technology

New Jersey

SCALE Turnaround & Restructuring Team Overview

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Frank Turner - Chief Advisor, Restructuring

Frank P. Turner is the Chief Advisor of Restructuring at SCALE Physician Group.

Frank brings 30 years of experience to SCALE and has been involved in a variety of corporate debt restructurings totaling

more than $12 billion. He has successfully negotiated with first lien, second lien, unsecured, and subordinated debt

holders, and equity owners. His turnaround transactional experience encompasses both in and out-of-court

restructurings, leading DIP and exit financings, arranging equity rights offerings, negotiating debt-to-equity exchanges,

mergers & acquisitions, and selecting new boards of directors and management teams.

Frank is the Founder and Managing Partner of Interpeak Consulting LLC. Interpeak was founded to offer Frank’s unique

perspective and Wall Street insight to small and medium size firms, their boards, or other company stakeholders in need

of practical and non-conflicted advice on loan renegotiations and restructurings. Prior to Interpeak, Frank was a Partner

and Portfolio Manager at WCAS Fraser Sullivan Investment Management, LLC.

Previously, Frank was the Global Head of Commercial Loans for the Lehman Brothers bankruptcy estate. He was

responsible for the management and ultimate liquidation of a $40 billion corporate loan portfolio. During his thirteen-year

career at Lehman Brothers, his responsibilities included leveraged loan capital markets, corporate debt restructurings, and

portfolio management. He also acted as Co-Chief Credit Officer for Lehman Brothers Commercial Bank.

Prior to Lehman Brothers, Frank spent ten years at The Bank of New York. He began his banking career at the Irving

Trust Company.

Frank is a Certified Turnaround Professional with the Turnaround Management Association. Frank graduated with a BA in

Economics from Westminster College and an MBA in Finance from Purdue University – Krannert School of Management.

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Dr. David Friend – Chief Advisor, Restructuring

Dr. David Friend is the Chief Advisor of Restructuring at SCALE Physician Group.

Dr. Friend has 30 years of global healthcare experience serving as Chairman, CEO, COO, Chief Clinical Officer, Chief Medical Officer,

Board Member and Advisor for a variety of Fortune 500 Companies, Health Systems, Academic Medical Centers, Biotechnology, IT

Companies, Physician Groups and Post-Acute Care Organizations.

Most recently, Dr. Friend served as the Co-Founder and Chief Transformation Officer of the BDO Center for Healthcare Excellence &

Innovation. The BDO Center combined interdisciplinary expertise in finance, clinical, digital analytics and regulatory knowledge to help

clients solve their most complex challenges.

On behalf of BDO during 2018 and 2019, Dr. Friend served as Chief Executive Officer of Senior Care Centers, the largest post-acute care

provider in Texas caring for approximately 10,000 patients in 100 facilities with revenues of approximately $1 Billion. Dr. Friend was

brought in to stabilize operations, restructure the company, and guide the firm through the Chapter 11 process with the goal of emerging

with a court confirmed plan.

Prior to joining BDO, Dr. Friend held the positions of Executive Vice President and Chief Clinical Officer of Golden Living, a $3 Billion

leader in post-acute healthcare and President and Chief Medical Officer of Aseracare Hospice and Homecare, specializing in Home

Health, Palliative Medicine and Hospice. Other notable positions include serving as Chairman and CEO of The Palladium Group, a global

data analytics firm, Managing Director in the Healthcare Practice at Alvarez & Marsal, and Board Member, US Regional Co-Manager and

Global Leader of the Healthcare practice at Willis Towers Watson.

Dr. Friend is currently on the Board of Fallon Health and is a member of the Audit and Clinical Care Committees. He is also on the

Executive Advisory Board of The University of Pennsylvania, LDI Health Policy Institute. Dr. Friend was previously appointed by the

Governor of the State of Connecticut to be a Founding Board Member of The University of Connecticut Health Center where he served on

the Board of the Teaching Hospital and Medical School.

Dr. Friend received a MBA from Wharton, University of Pennsylvania, a MD from The University of Connecticut, and a BA in Economics

from Brandeis University.

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Inform Turnaround & Restructuring Efforts With a Diverse Portfolio of Strategies & Best-Practice “Lessons Learned”

Core MSO Operations and Payor Contracting Teams

Suniti Ponkshe

Chief Advisor, Payor Contracting Strategy

Robert Trenczer

President, SCALE RCM

Sandy Seay

Chief Advisor, Human Resource Solutions

Jason Schifman

Co-Founder & President

Jack Trunz

Analyst, Platform Development

Roy Bejarano

Co-Founder & CEO

Bill Ingram

Vice President, Platform Development

Jeff Kahn

Chief Advisor, Human Capital Management

David Kovel

Chief Advisor, IT & Data Strategy

Mike Mirt

Chief Advisor, Executive Payor Strategy

Rob Popdan

Analyst, Platform Development

Jack Carrier

Associate, Platform Development

Susan Silhan

Vice President, Marketing

& Communications

Tracy Bahl

Chief Advisor, National Payor Strategy

Jonathan Kron

Operating Partner, SCALE Europe

Jatinder Garcha

Vice President, Platform Development, SCALE

Europe

David Friend

Chief Advisor, Restructuring

Richard Veltre

Chief Advisor, Financial Systems

and Controls

Peter Cunningham

Chief Advisor, Direct to Patient Marketing

Robert Dondes

Chief Advisor, Managed Care and

Payor Networks

Frank Turner

Chief Advisor, Restructuring

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Inform Turnaround & Restructuring Efforts With a Diverse Portfolio of Strategies & Best-Practice “Lessons Learned”

SCALE’s Clinical Service Line and Site-of-Service Team

Bob DeCresce

Chief Advisor, Pathology

Thomas Petrone

Chief Advisor, Radiology & Radiation

Oncology

Michael Reed

Chief Advisor, Primary Care, Medicare Advantage, ER

Staffing and Hospital Physician Services Programs

James Usdan

Chief Advisor, Dental Provider Platforms

& Physical Rehab

Keith F. Safian, MBA, FACHE

Chief Advisor, Healthcare System

Strategy

Charles Trunz

Chief Advisor, Hospital Relations

& Urgent Care

Richard Loewenstein

Chief Advisor, Behavioral Health

Platforms

Janice Pyrce

Chief Advisor, Behavioral Health

Platforms

Marcello Celentano

Chief Advisor, Ophthalmology

Provider Platforms

Steve Straus

Chief Advisor, Ophthalmology

and Dermatology Provider Platforms

Adam Nielsen

Chief Advisor, Home, Health & Hospice

Platforms

Chad Eriksen

Chief Advisor, Clinical Research

Laurie East

Chief Advisor, Pediatric Provider

Platforms

Steven Graubart

Chief Advisor, Micro Hospitals

Gregory Levitin, M.D., F.A.C.S.

Chief Advisor, ENT Provider Platforms

Mark Sapner

Chief Advisor, Telemedicine &

Remote Care Delivery

David Reese

Chief Advisor, Infusion & Pharma

Services

Steve Fiore

Chief Advisor, Orthopedic

Provider Platforms

Dr. Jordan Stewart

Chief Advisor, Podiatry Provider

Platforms

Nicholas Pachuda

Chief Advisor, Medical Devices

Chris Ennis

Chief Advisor, Urology

Brent Westhoven

Chief Advisor, Women’s Health

Dr. Howard Greenfield

Chief Advisor, Anesthesia

Dr. Joseph Racanelli

Chief Advisor, Radiology

Andrew Mazzella

Chief Advisor, Radiology

Marc Olsen

Chief Advisor, Urgent Care and Consumer

Directed Health Services

Ernest A. Varvoutis, III

Chief Advisor, Hospital Systems

Joe Carlon

Chief Advisor, Pain Management

Provider Platforms