Andrew Thung

Managing Director
20+ years of advisory and interim management experience with healthcare organizations
Specializes in performance improvement and turnarounds
Extensive experience with multi-location healthcare services providers
New York
@alvarezmarsal
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Andrew Thung is a Managing Director with Alvarez & Marsal’s Healthcare Industry Group in New York. With over 20 years of advisory and interim management experience, he specializes in performance improvement and turnarounds for healthcare organizations in various stages from growth to distress.

Mr. Thung’s recent engagements include serving as financial advisor to several private equity owned management services organizations (MSOs) for physicians’ practices. Mr. Thung helped MSOs scale their financial infrastructure, including developing financial reporting, designing and implementing revenue accrual processes, calculating physician compensation, identifying G&A right-sizing opportunities, and managing treasury and liquidity.

Prior to that, Mr. Thung served as acting CFO of a $200 million specialty lab company. He led the company’s finance organization through a Chapter 11 bankruptcy filing and sale of the business and handled financial reporting, treasury/liquidity management, development of KPIs/dashboards, lender negotiations, identification and implementation of cost reductions, and capital raising. Mr. Thung also served as an interim VP of Finance for a $1+ billion home health provider, overseeing the accounting, treasury and financial planning departments and performance improvement processes for underperforming branches.

As a financial advisor to public and private companies, Mr. Thung has developed long-term business plans and cash flow forecasts for companies engaged in settlement negotiations for fraud against federal and state agencies. During the wind down of Lehman Brothers Holdings Inc., he was part of the restructuring group and the treasury group, monitoring the firm’s liquidity through cash flow forecasting and financial reporting.

Prior to joining A&M, Mr. Thung was a Financial Analyst at Bear, Stearns & Co. Inc., where he specialized in M&A and leveraged finance transactions.

Mr. Thung earned a bachelor’s degree in applied math and economics from Brown University and an MBA from the Kellogg School of Management at Northwestern University.

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