FTI Consulting : Capital Advisors Supports Coastal Administrative Group, LLC on Multiple Transactions

FTICA Assists Client by Completing a Merger, Forming a New ASO and Closing a $50 Million Financing

Washington, D.C., May 15, 2024 - FTI Capital Advisors, LLC ("FTICA"), the U.S. practice of the wholly owned global investment-banking subsidiary of FTI Consulting, Inc. (NYSE: FCN), recently acted as financial advisor to Coastal Administrative Group, LLC, a newly formed administrative services organization ("ASO") for radiology services, in a series of transactions that will enable a multi-step growth plan in teleradiology, hospital management, joint venture imaging facilities and office-based labs.

The transactions created a new ASO through a reorganization and recapitalization of ownership of multiple physician practices, in addition to providing $50 million in capital commitment to facilitate near-term growth initiatives.

Key steps included merging and reorganizing multiple clinical entities into a new physician-owned holding corporation, forming and capitalizing a new ASO to centralize administrative and management functions, completing the merger of four radiology practices to consolidate its presence in New Jersey and distributing a dividend to physician owners.

Dr. Tom Yu, President and CEO of Coastal Administrative Group, LLC, said, "Our FTICA bankers worked with all the physician owners to structure and capitalize the entity. Without their creativity and experience, we would not have been successful in putting together this complex structure. We are excited to have created a physician-owned entity which we believe offers a great environment and platform for radiologists to become part of a rapidly growing company."

Metropolitan Partners Group, a private investment firm that provides growth capital to non-sponsored businesses in the domestic lower middle market space, committed $50 million of capital to fund the growth plan.

"Coastal brings an experienced team and a long-standing track record of providing comprehensive radiology services," said Max Segal, Principal at Metropolitan Partners Group. "We are excited to be part of this transformative process and look forward to supporting their continued growth."

The engagement highlights FTICA's ability to provide expert advice on physician practice management opportunities in a multifaceted situation and complex transaction, with a team of experienced investment bankers and healthcare specialists. FTICA leveraged the expertise of its bankers to provide M&A advisory on merging clinical entities, as well as FTI Consulting's Corporate Finance & Restructuring segment to provide a quality of earnings report.

"FTICA is uniquely positioned to holistically support and advise Coastal to execute its strategic growth plan through investment banking, transaction services and operational expertise. This transaction offered the physician partners an alternative to a control sale and created a vehicle for continued growth," said Rod Rivera, a Senior Managing Director at FTICA.

About FTI Capital Advisors

FTI Capital Advisors is a global boutique middle market investment bank which specializes in healthcare, M&A, capital raising, valuation and opinions, and special situations mandates across targeted industry sectors - including deep credentials in the telecom sector, as well as the media, energy generation, real estate and industrial industries. Backed by the power of FTI Consulting's worldwide network of professionals, FTICA combines deep industry expertise with investment banking and transaction execution experience to deliver value enhancing outcomes for our clients. More information can be found at www.fticapitaladvisors.com.

FTICA's practice in the United States is registered with FINRA and engages in securities transactions pursuant to that registration. In non-U.S. securities transactions, FTICA may work with securities dealers registered in other countries. FTI Capital Advisors is the wholly owned global investment banking subsidiary of FTI Consulting, Inc. (NYSE: FCN).

About Coastal Administrative Group, LLC

Coastal Administrative Group, LLC is a physician-owned company that provides administrative and management services to radiology practice groups. Coastal practice groups provide comprehensive radiology services including hospital and health system contracting, free-standing imaging centers and teleradiology. Coastal consists of 34 total full-time physicians (17 physician owners), including both Interventional and Diagnostic Radiologists, along with 81 support staff.

About Metropolitan Partners Group

Metropolitan Partners Group is a private investment firm that provides growth capital to non-sponsored businesses in the domestic lower middle market space, unconstrained by industry or asset class. Metropolitan works directly with business owners and management teams to grow their balance sheets and build lasting value with our tailored capital solutions. About FTI Consulting

About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations manage change, mitigate risk and resolve disputes: financial, legal, operational, political & regulatory, reputational and transactional. With more than 8,000 employees located in 33 countries and territories, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges and make the most of opportunities. In certain jurisdictions, FTI Consulting's services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.49 billion in revenues during fiscal year 2023. More information can be found at www.fticonsulting.com.

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Source: FTI Consulting, Inc.