Alvarez & Marsal announced that Martin Cohen, a veteran healthcare executive, has joined A&M’s Healthcare Industry Group as a managing director. He is based in New York City.

With more than 30 years of operational, financial and restructuring experience in the healthcare industry, Cohen brings extensive C-level expertise to his role at A&M, having previously served as chief executive officer, chief restructuring officer and chief operating officer specializing in operational improvement through financial and operational-driven turnarounds.

Cohen has represented both companies and creditors in formal bankruptcy and out-of-court settlements providing a comprehensive array of services, including operational reviews and development of business / strategic plans, analysis of cash-flow projections and development of cash management programs, bankruptcy planning, negotiation of debtor-in-possession financing, restructuring of existing credit facilities, assessment and development of asset sale / liquidation plans, determination of asset and enterprise valuations, facilitation and negotiation of asset sales in and out of bankruptcy, and negotiations with parties in interest.

“Healthcare is clearly in the midst of a major sea change, forcing organizations across the industry spectrum to rethink their business models, assess alternative structures and react to a shifting competitive and regulatory landscape,” said Guy Sansone, managing director and head of A&M’s Healthcare Industry Group. “Against this backdrop of mounting uncertainty, the business of healthcare is being redefined, requiring a higher level of leadership than ever before and non-conventional approaches to solving complex problems. Marty brings a wealth of expertise, as both an executive and a consultant, in helping to lead companies through critical transformative periods – making him an invaluable addition to our team.”

Prior to joining A&M, Cohen spent 14 years with FTI Consulting and PwC in Washington, D.C., where he focused on the provision of turnaround and restructuring services to healthcare companies. During this time, he developed and led FTI’s national healthcare practice. Before that, he held a number of senior positions with Inova Health System, a large integrated health system consisting of multiple acute care hospitals and a variety of non-acute services, and was responsible for the operation of all behavioral and non-acute services, overall system growth, and system-wide strategic plan development and implementation. Earlier in his career, he served as a principal at Cohen, Rutherford, Blum, and Schott providing a variety of financial and operating advisory services, and developed and implemented nationally one of the first DRG-based hospital cost accounting and utilization management systems. He also worked in a number of senior financial and accounting roles at the Greater Southeast Community Hospital and Blue Cross Blue Shield of the National Capital Area in Washington, D.C.

Cohen earned a bachelor’s degree in political science and a master’s degree in business administration with a concentration in finance from the Virginia Polytechnic Institute and State University. Additionally, he is a Certified Insolvency and Restructuring Advisor.