Mark E. Toney is a Senior Managing Director in Accordion’s Turnaround & Restructuring Practice. With nearly four decades of experience, Mark is a senior executive focused on interim and crisis management, operational reorganizations, financial revitalizations, and corporate turnarounds. He is results-driven, with a unique vision and an emphasis on strategy, while maintaining a disciplined focus and persistence on execution and continuous improvement. Mark is known for successfully executing complex projects, including those relating to corporate governance, operational improvements, organizational assessments, and strategic realignments. He is an adept negotiator with a proven ability to achieve practical solutions through positive working relationships with attorneys, lenders, Boards of Directors, labor unions, regulators, political and community leaders, and other key parties.
Before Accordion, Mark co-founded ToneyKorf Partners, LLC, a results-driven management and advisory firm helping healthcare organizations address strategic, operational, and financial challenges. Previously, Mark was the national managing partner of Grant Thornton’s Corporate Advisory & Restructuring Services practice, as well as leading the investment banking services practice of the firm. Further, he was a managing director with AlixPartners, LLC, and a partner at PricewaterhouseCoopers LLP. Mark was also a vice president of an investment banking and private capital firm, where he structured acquisitions, negotiated purchase and sale agreements, arranged acquisition financing, and conducted target acquisition analysis.
Mark’s management roles most recently included serving as the CRO at Mercy Iowa City, an acute care hospital, where he led the day-to-day operations, the restructuring and bankruptcy process, and the sale of the hospital to an academic medical center. The project started with significant discord amongst the stakeholders, and it ended with a consensual plan in the bankruptcy case that preserved the hospital and the community’s jobs while maximizing the recovery of the creditors.
As another example, Mark served as President, CEO, and CRO at Milford Health & Medical, Inc., an acute care community hospital in the northeast, where he assisted the Board in evaluating strategic options and led the implementation of an out-of-court or non-bankruptcy solution. He was the lead negotiator in facilitating the sale of the operations and hospital to a large academic medical center and healthcare system. The strategic solution also required eliminating liabilities and non-core assets, including the organization’s captive insurance company. At the same time, he led the organization’s day-to-day operations and prepared the staff for the merger and integration into the acquiring health system. After the transaction, Mark and his team wound down the legal entities.
He also served as CEO of Brookdale University Hospital and Medical Center in Brooklyn, New York, where he successfully developed and led a strategy preventing the bankruptcy and closure of a vital organization providing healthcare to a large, underserved population of New York City. He worked and collaborated with elected officials, regulators, union leaders and members, providers, staff, police, and firefighters to rebuild the morale and reputation of the organization. His leadership created a path for a new health system by combining three regional health organizations.
Before that, he was the CRO of Saint Vincents Catholic Medical Centers of New York (“SVCMC”). He was initially retained by the senior secured lender as an advisor. However, by request of the Board of Directors of SVCMC and with support from the senior lender, Mark was subsequently hired as SVCMC’s crisis manager. This high-profile and complex restructuring was one of the most significant Chapter 11 bankruptcy reorganizations within the healthcare industry. It involved collaboration with the Board, secured lenders, providers, unions, staff, elected officials, and community activists. He led the strategy and implementation of asset sale negotiations through a bid process that required the preservation of healthcare in the community.
Mark holds a B.S. in Business Administration from West Virginia University and is a Certified Public Accountant. He is a member of the American Institute of Certified Public Accountants, the National Association of Corporate Directors, the Association for Corporate Growth, the American Bankruptcy Institute, and the Turnaround Management Association. He serves on the John Chambers Business School’s Board of Advisors at West Virginia University. Mark is a frequent guest speaker on various business, cultural, and public policy topics.