Daily News: September 16, 2016

Deloitte CRG’s Robichaux Recognized with TMA Award

Deloitte CRG’s restructuring professional Louis E. Robichaux IV was recognized for his work as chief restructuring officer for Tuomey Healthcare System as part of a larger team of advisors who won the 2016 Turnaround Management Association’s Non-Profit Company Transaction of the Year award.

Tuomey is a general acute care hospital in Sumter, SC, that provides compressive hospital and physician services to residents in South Carolina’s Sumter, Lee and Clarendon counties. Tuomey is also the primary source of health care for Shaw Air Force Base.

During 2014-2015, Deloitte CRG’s restructuring professionals, along with a top-flight team of legal and other advisors, helped Tuomey to complete a partnership affiliation transaction, pay its creditors in full, fully resolve its $237 million litigation verdict and preserve 1,500 local jobs, all while avoiding bankruptcy. More importantly, the affiliation transaction not only preserved, but enhanced, Tuomey’s (now named Palmetto Health Tuomey) future ability to provide critical health care services to the citizens of its service areas.

Robichaux said, “I am thrilled and humbled to have been part of an amazing team of Tuomey executives, lawyers and advisors who spared no amount of effort and energy to help Tuomey achieve this result. I’m particularly proud of the fact that Toumey will continue providing critical health care services in Sumter, Lee and Clarendon counties as part of Palmetto Health, the largest health system in South Carolina.”

Kirk Blair, Deloitte Advisory Corporate Restructuring Group leader, added, “Restructuring work is very intense and specialized. It requires unique skills to address complex challenges and achieve outstanding results. I couldn’t be more proud of the team of people TMA recognized with this award.”