New Partnership to Strengthen Health Care in Nebraska
The Dodge County (Neb.) Board of Supervisors, Fremont Health Board of Trustees and Nebraska Methodist Health System Board of Directors approved this week a definitive agreement for a strategic partnership between Fremont Health and Methodist.
“[Fremont Health is] the only small independent health system that runs a community health system in the Greater Omaha area that is independent, every other one is part of a larger system. That makes it very difficult for us to be efficient and to compete, so by joining a larger system we get strength in numbers, we gain operational efficiencies, and gain access to their expertise,” Pat Booth, Fremont Health President and CEO, told the Fremont Tribune.
This transaction results from a great deal of foresight by the management and board of Fremont Health, along with the support of the Dodge County Supervisors. Fremont Health decided to move forward with a partnership process at a time of financial strength, which resulted in strong interest from a number of high-quality health systems. Because of the prudent timing, Fremont Health was able to utilize an innovative lease structure which will help preserve its existing pension plan for the benefit of current and former employees, among other favorable attributes.
The Fremont Health Board of Trustees, appointed by the Dodge County Supervisors to provide oversight of the public Fremont Health Medical Center and its network of clinics, put forth a set of objectives for a potential affiliation last summer. The objectives included upholding Fremont’s mission and provision of charity care, maintaining and expanding clinical services, and preserving jobs.Fremont’s long-term sustainability is of the utmost importance to its community, as it is the sole hospital in Dodge County and a regional economic engine. Fremont Health employs more than 800 individuals and has a medical staff comprised of 100 physicians.
Juniper Advisory guided Fremont through a process to identify and evaluate partners that could preserve the hospital’s services and mission. After thorough consideration, Fremont chose Methodist as its preferred partner. With three hospitals and more than 20 clinic locations, Methodist is one of the premier health systems serving Nebraska.
Learn about this transaction and more at Juniper Advisory’s Website:
Learn about Rex Burgdorfer and the rest of the Juniper team:
Rex Burgdorfer is a vice president of investment banking at Juniper Advisory in Chicago. For over ten years, he has provided
strategic advise to hospitals and health systems regarding a full range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, defense tactics, spin-offs, divestitures and other corporate restructurings. He as formerly with New York based Morgan Stanley.
In addition, Rex James Burgdorfer is an active private investor and advisor with 20+ angel investments. He was an early stage participant in Northwestern University's Purple Arch Ventures (PAV) portfolio. PAV invested in SonderMind in early-2018. SonderMind is a digital network of specialized behavioral health and wellness centers. Through this platform, users in Denver, Boulder, and Aurora CO can locate a therapist, research, and schedule therapy appointments on SonderMind. SonderMind's technology guarantees clients will be seen within 72 hours. Patients and providers utilize a number of payment methods and health insurance products.
Currently, ~250 health practitioners in ~85 specialties are accessible through the platform. For therapists, SonderMind provides back-end business management services - - access to billing software, accounting, marketing, and ~100 counseling rooms. The company will use the financing to grow the franchise into additional US markets.
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| Rex Burgdorfer: Becker's Hospital Review |
For the Q&A, Burgdorfer and Toomey appraised the market and offered insight for health systems considering a transaction. Their advice: Start planting seeds now. Never underestimate politics. Durability increases as you form tighter, more permanent relationships.
To view more of the conversation, please visit Rex Burgdorfer: Jarrard Inc.
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| Rex Burgdorfer: Waller |
For those hospitals and health systems that are financially sound and have sufficient capital, entering into a joint venture allows them to best position themselves for future success—to thrive rather than just survive. Evaluating strategic alternatives from a position of strength allows the board of a hospital or health system to take its future into its own hands and identify a partner that complements and enhances its operations, capitalization, compliance and quality functions.
Kenneth Marlow recently sat down with Rex Burgdorfer of Juniper Advisory, an independent investment bank working exclusively with hospitals and health systems, to talk more about hospital joint ventures. Over the last 25 years, Juniper has worked with more than 200 nonprofits hospital systems on joint ventures, acquisitions and other partnerships in more than 40 states.
To view a few excerpts from the Q&A between Kenneth and Rex, please visit Rex Burgdorfer: Waller.
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| Sue Duncan Children's Center |
Rex James Burgdorfer serves as vice president of investment banking at Juniper Advisory in Chicago. Also an angel investor, he has invested in numerous companies with potential for strong growth through VestedWorld. Outside of work, Rex Burgdorfer contributes to the Sue Duncan Children’s Center and other local charities.
With an original location at Jackie Robinson Elementary School at 4225 South Lake Park Avenue in Chicago, the Sue Duncan Children’s Center also runs a program at John Fiske Elementary School at 6020 South Langley Avenue. The center operates after-school programs that promote children’s academic, artistic, and athletic growth.
Sue Duncan Children’s Center stands out as one of few non-religious after-school programs that offer personal attention and achieve outcomes that exceed expectations. A hallmark of the program is the low tutor-to-student ratio of 1:5, which far exceeds Chicago Public Schools’ standard of 1 teacher to 32 students. In addition to assisting students with their homework, the center stimulates intellectual curiosity and aims to instill in students a love for learning. After working on their homework and engaging in recreational activities, students receive a hot meal before going home.
As evidence of the effectiveness of the center’s programming, 100 percent of students demonstrate improvement academically and socially, and over 90 percent of students demonstrate improved grades after only one semester. Further, 100 percent of eighth-grade participants have graduated from high school, and a large percent of high school seniors have gone on to enroll in college.
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| Rex Burgdorfer: Ernst Development |
Founded in 2010 by Nate Ernst, Ernst Development provides real estate development services throughout the Chicago metropolitan area. Most of the funds center on the Hyde Park and Jackson Park neighborhoods surrounding the future home of the Barack Obama presidential library. Operating under the belief that the real estate business is a service industry, the company focuses on enhancing the lives of individuals and the broader community through property management and development.
Ernst Development offers a diverse range of residential spaces, from apartments to single-family homes. The company often acquires distressed properties, renovates them with necessary modern updates and additional amenities, and then ensures they remain well maintained. Most homes feature convenient access to job sites, public transportation, and shopping.
For more information about Ernst Development, its properties, and its approach to the tenant-landlord relationship, visit www.ernstdevelopmentllc.com.
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| Sue Duncan Children's Center |
The Sue Duncan Children’s Center was founded by Sue Duncan, mother of the former Secretary of Education under the Obama Administration, Arne Duncan. The program offers a variety of after-school programs to promote the academic, artistic, and athletic growth of the children it serves. Geared toward at-risk youth, the center relies on individual and corporate donations as well as the support of volunteer tutors at two campuses on Chicago’s South Side - - Jackie Robinson and John Fiske Elementary Schools.
In November of 2016, the Sue Duncan Children’s Center held its Fall Fête, which celebrated the organization’s 55th anniversary and helped raise funds for future operations. The center is asking those who missed the anniversary event to volunteer their time or resources to support programs such as the center’s Writing Project, which features fiction and nonfiction stories written by Chicago students. For more information on how you can support the Sue Duncan Children’s Center, visit www.sueduncanchildrenscenter.org.
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| Rex Burgdorfer, founder of the auxiliary board of the Sue Duncan Children's Center |
With two locations on Chicago’s south side, the Sue Duncan Children’s Center functions as an after-school program primarily for at-risk youth. Founded in 1961 by Sue Duncan, the mother of President Obama’s Secretary of Education, Arne Duncan, the Sue Duncan Children’s Center promotes educational, athletic, and artistic development.
Each year, students in the third grade and older are required to sign a contract to uphold the center’s code of ethics. This code of ethics contains four core values, which are respect, education, independence, and determination. Staff members are also required to sign the contract, which helps form a bond between them and the students, fostering a greater partnership and accountability for the community.
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| Sue Duncan Children's Center Logo |
Sue Duncan Children’s Center sets out to nurture the academic, artistic, and athletic growth of children in Chicago. Because Sue Duncan Children’s Center does not receive funding from state or federal sources, the organization relies on the support of individual and corporate donors. Monetary donations support programs such as the Writing Project, a compilation of fiction and nonfiction works submitted by Chicago children.
Individuals can also show their support for Sue Duncan Children’s Center by volunteering their time. The organization welcomes volunteer tutors who work one-on-one with students and help them complete their homework assignments. After fulfilling their tutoring obligations, volunteers can join children during gym hours later in the day. The majority of acitivities takes place at two Chicago schools: Jackie Robinson Elementary School and John Fiske Elementary School.
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| Sue Duncan Children's Center in Chicago, IL |
Opened in 1961, the Sue Duncan Children’s Center in Chicago, Illinois is designed to help transform children’s lives and provide them with a safe, supportive environment. Sue Duncan is the mother of Arne Duncan, former Secretary of Education in the Barack Obama administration and CEO of Chicago public schools. One of the most famous alumni who came out of the children’s center is actor Michael Clarke Duncan, best known for his role in The Green Mile.
The center provides social adjustment skills and academic tutoring for thousands of kids, helping to provide them with a solid foundation for a successful life. The success of the Sue Duncan Children’s Center has made it possible for a second center to be opened in Woodlawn, Illinois. Rex and his wife Lindy both sit on the advisory board.
