Human Resources Financial Reporting

Enclosed is my resume regarding the CFO position. I have 30+ years experience, serving as CFO / COO in both publicly and privately-held companies. My primary focus is partnering with the CEO, COO and other members of management and delivering strong results in high-growth, fast-paced environments. My tenure also includes several years in public accounting as a CPA, providing audit, tax, and management consulting services to a variety of industries.

Key attributes of my work ethics include:

CFO in various service and retail industries; Healthcare and IT expertise;

Broad-based knowledge to include service, product, logistics, manufacturing, etc in multi-site / state environments;

Experience in mergers and acquisitions, including due diligence, investment analysis, and financial support to deal origination, negotiation and structuring;

Managed and executed several systems implementations and conversions in both centralized and decentralized environments; development of performance-based metrics;

Proven expertise and experience in managing the finance and accounting function, including sophisticated financial reporting and control systems;

Ability to establish internal credibility across organizational lines in addition to exceptional relationship building skills;

Excellent interpersonal and communication skills. Ability to work effectively with a diverse group of senior executives – each with individual management styles;

Action oriented, “get the job done” executive; Impeccable professional and personal integrity and work ethics.

During my private industry experience, my responsibilities include accounting and finance, management information systems, procurement, human resources, legal and various other operational functions. Strong emphasis in establishing organizational infrastructure has allowed the companies to successfully digest rapid growth and utilize a “metrics-based” approach in the management decision making process.

I have established shared support functions within the organizations and my CFO responsibilities, effectively reducing costs, automating processes, and ensuring field-based revenue producing operations are able to focus on the core product of the business without “corporate” interference, yet appropriate and beneficial oversight.

Please feel free to call me @ 703-***-**** or respond via email at *********@******.***.

Sincerely,

Bruce C. Hayden, CPA

BRUCE C. HAYDEN, CPA

17428 Locust Grove Lane, Edmond OK 73012

703-***-****; *********@******.***

OVERALL SUMMARY

Responsible for the development, implementation, and success of strategic and tactical financial and operational initiatives. Functional oversight includes:

Accounting & finance · Shared support services / back office

Underperforming companies · Healthcare revenue cycle

Internal controls · Cash management / treasury

Policy & procedure · SEC / financial reporting

Compliance · Merger & Acquisitions

HR, Purchasing, Legal, Facilities · Information Systems

Significant areas of focus include:

Earnings performance

High-growth multi-site, multi-state environments

Strategic planning, budgeting models and performance analysis

Legal and reimbursement organizational structure; regulatory structure

Major equity and debt financings

Development of company-wide policies and procedures

Third-party audits with public accounting firms and fiscal intermediaries

Internal audit focus on operational and resulting efficiencies

Oversight of HR, IT, Risk Mgt., Procurement, Legal and other functions

EMPLOYMENT

BH Consulting LLC - Specialty CFO positions - (September 2019 - current; Multi-site healthcare providers; outpatient physician clinics, LTC pharmacy, hospice, outpatient therapy, urgent care, mental health, rehab hospital, etc.)

Specialty CFO positions focused on short-term objectives, primarily exit event preparation, both financially and operationally. Responsibilities include turnaround efforts, audits, quality of earnings engagements, public filings, fiscal budgeting and financial planning, private equity negotiations and capital raise, staffing infrastructure, shared services support, consolidated tax planning, legal liaison, etc.; $75-350mm revenue base companies. Additional projects with other clients include system implementations, conversions, metrics / KPI analysis and M&A activity.

CFO - Summit Pharmacy, Inc. (September 2014 – present; Specialty Pharmacy) and Phoenix Toxicology & Lab Services, LLC (January 2016 – present)

Implemented new accounting system and converted data from inception (2004) to present; streamlined all reporting and included cost centers / reportable activities;

Implemented KPI’s and cost effective measures to reduce costs over $2mm;

Developed standard sales force commission / pay / performance tables in various components of our customer industry types;

Developed annual strategic plan / budget / forecasting process;

Work closely with majority owners and investors on company capitalization;

Closed working capital line-of-credit with Alerus NA in addition to term debt;

Identified acquisitions (503(a) and 503(b) pharmacies;

Completed four years certified financial statements with no adjustments;

Established company-wide policies and procedures including accounting, sales, marketing, etc.

Serve as lead for marketing support for sales force; web designs, collateral materials, promotional items.

Accelerated collections 78% through billing / collections transition at toxicology lab.

Company sold 2019.

CEO / CFO - Home Care Solutions, LLC (August 2010 – September 2014; Rehab company)

Closed equity transaction related to regional therapy provider (physical, occupational and speech therapy) as a Medicare Part B outpatient services company.

Developed working relationships with 45+ home healthcare providers in the Maryland, Virginia and DC area as the primary provider of therapy disciplines, in addition to 12 facility-based at Adult Daycare, Assisted Living and Independent Living environments.

Revenues have grown 4x and company returned to profitability.

Company sold 2014.

CFO - Swissport USA, Inc. – (October 2007 – July 2010; Aviation Services Company)

Improved EBIT from a net loss of $12mm in 2007 to over $30mm profit in 2009.

Implemented monthly rolling forecasts, daily key indicators reporting, and monthly KPI’s for all countries.

Eliminated audit adjustments (120+ in 2006) to none in 2007, 2008 and 2009.

Decreased DSO’s from 77 to 42, generating $40mm+ cashflow.

Implemented “hand-held” technology for airport service operations, eliminating manual entry / duplicative paperwork. Also managed IT department and completed entire restructure and virtualization in 2009.

Company sold 2010

BH Consulting LLC - Commuting CFO positions - (October 2004 to October 2007; Multi-site Urgent Care, Home Infusion, IT hardware / software SaaS)

Started individual CFO interim consulting business. Out-of-state commuting CFO positions held with home infusion, urgent care centers, and IT hardware / software SaaS companies. Responsibilities include turnaround efforts, public filings, fiscal budgeting and financial planning, private equity negotiations and capital raise, staffing infrastructure, shared services support, consolidated tax planning, legal liaison, etc.; $20mm-40mm revenue base companies. Additional specialty projects with other clients include system implementations, conversions, metrics / KPI analysis and M&A activity.

CFO – Galt Associates, Inc. - (December 2001 to September, 2004; Pharma Software / Studies with 24 of the top 25 Pharma companies, both domestic and international)

Responsible for all finance and accounting, M&A activity, management information systems, legal, facilities, human resources and QA functions.

Revenues increased 90%, while the Company has turned profitable.

Implemented perpetual contract pricing model with full validation of Vendor Specific Objective Evidence, Accounting for Software Revenues Recognition.

Major contractual negotiations with major US and International clients.

Closed $2.5mm line-of-credit with Silicon Valley Bank.

Responsible for the implementation of complex accounting system (Great Plains) to allow for multi-level analysis of revenues / costs by department, product-line, specific-project, and client analysis.

Implemented company-wide policies and procedures and HR policies.

Company sold 2005

CFO – UroCor, Inc. (NASDAQ:UCOR) - (April 1999 - November 2001; Healthcare laboratory)

Major focus included investor relations, operational infrastructure and performance metrics, earnings performance and accelerated cash collections, as the Company previously experienced significant bad debt problems.

In two years collections increased for all aging categories up to 60%, while increasing in the aggregate over 50%. DSO's were reduced from 160 to 75 days.

Negotiated managed care contracts for over 300 payer sources.

Positive earnings achieved over last six quarters; stock price increase of 350%.

Investor relations, completed ongoing "road show" presentations at major industry conferences in addition to over 500 “one-on-one” meetings.

Initiated stock repurchase plan, effecting the purchase of 1.7mm shares at an average weighted price of $4.50; final merger price was in excess of $17.50.

Directed the due diligence and selection process for new core applications

Established flexible budgeting process and monthly operating reviews.

Selected investment banker and primarily responsible for the negotiations and merger transaction between Urocor and Dianon, which culminated in November 2001 at a total value of $200mm. The transaction represented the highest valuation ever within the laboratory industry.

Company merged 2001.

CFO - Medshares, Inc. – (1994 - 1999, excluding 1996; Home Healthcare)

During 5+ year tenure, the Company grew from $40mm to over $300mm, and was the largest private, 4th overall in the homecare industry (over 200 locations).

Initiated management contract concept in 1994, which exceeded $15mm in first year revenues and 40% gross margin.

Identified prospects, made contacts, negotiated and closed $25mm debt financing with DVI, and $34 / $55mm with NCFE..

Developed private placement memorandum and presented equity opportunity to several institutional and private investors.

CFO - Columbia / HCA (NYSE:COL) - (1996 – Home Healthcare)

Responsible for developing and implementing strategic initiatives to over 550 provider locations nationwide. Second largest homecare company ($1.5 b revenues).

Developed “best practices” financial and operational tools and designed communication / implementation process through 35 division CFO’s.

Responsible for financial approval of all development, merger and acquisition activity, accumulating over $80mm in transactions.

Began divestiture process of entire division due Company decision to exit.

Chief Internal Audit Director - First American Homecare - (1992 – 1994; Home Healthcare)

Largest privately held and 2nd overall in the homecare industry ($400mm+ revenues).

Directly responsible for entire company reorganization / cost reduction project in anticipation of prospective payment system. Consolidated, automated, and eliminated certain functions which resulted in $66mm or 17% reduction of average cost per visit.

CPA - PUBLIC ACCOUNTING (1983 – 1992)

BDO Seidman - Audit manager, primarily focused on financial institutions and healthcare providers. IPO / SEC experience with financial institutions and securities brokers. Responsible for quarterly and annual review / writing of SEC documents (10K, 10Q, S-1, etc.) of publicly held clients.

Adams & Yarbrough - Predecessor firm to the Virginia operations of BDO Seidman. Former E&Y partners started local firm in Richmond, Va. and subsequently merged. Similar audit client experience as above, in addition to several other industries.

1983 to 1991: CPA in Public. Responsible for all audit engagements and interpretation / implementation of professional standards. Provided auditing and accounting, management consulting and tax related services to over 350 clients, both privately and publicly held domestic and foreign operations. Other services include IPO’s, SEC reporting, business valuation, Medicare regulations and client litigation support, mergers and acquisitions.

Audit clients included:

· healthcare · medical billing / finance · rehab

IT firms · physician practices · wholesalers

financial institutions · retail · urgent care

· pharmaceutical · manufacturers · construction

EDUCATION

BS Business Administration / Accounting, East Carolina University. Over 1,200 hours of continuing education. Annual CPE’s include SEC focus (10K, 10Q, MD&A, S-1, etc.)

CERTIFICATIONS

Certified Public Accountant; Certified Internal Auditor

MEMBERSHIPS AND BOARD POSITIONS

American Institute of Certified Public Accountants; VA Society of CPA’s

Institute of Internal Auditors

Healthcare Financial Management Association; Health Care Compliance Association

Board of Directors, Swissport Holdings, Inc.

Board of Directors, Hallmark Aviation

Board of Directors, New Age Security Services, Inc.

Board of Directors, Oklahoma Workforce Development Committee

Board of Directors, Prostate Services of America

Board of Directors, J.D. McCarty Center

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