Boutique healthcare advisory.
Operator-grade finance.
Healthcare M&A, Capital Raises, and Investment Analysis. Plus Defense & Federal Healthcare and Fractional CFO services. We work with PE-backed healthcare platforms, family offices, independent multispecialty surgery centers, group practices, and biotech founders preparing for capital events.
Confidential conversation →
Thirteen-plus years building, financing, and operating private-sector healthcare ventures across PE-backed holding companies, family-office investments, multispecialty Ambulatory Surgery Centers, multi-site group practices, behavioral health platforms, and biotech ventures.
- Non-equity Operating Partner at a healthcare holding company — leading the VC raise plan build
- Seed-stage VC raise for a behavioral health platform — currently in market
- Multispecialty ASC physician-investor syndication — Dallas-Fort Worth partnership
- Biotech institutional research for family-office investors (DCF + rNPV via CatalystIQ)
Operational backbone: 23-year US Army Medical Service Corps career, retired as Lieutenant Colonel in 2012. As Ops Officer for JTF CAPMED NCR, operations officer in the $1.5B DoD healthcare consolidation that merged three teaching hospitals and realigned 48 clinics under SecDef-reporting Joint Task Force, supporting 439,000 TRICARE beneficiaries and 9,600 staff. That operating discipline informs how MCS Advisory approaches M&A integration, multi-site consolidation, and capital event preparation.
Where we work.
We engage where the financial and operational stakes are real. Recent engagements have started with one of these conversations.
Four lanes.
One methodology.
DCF, rNPV, sum-of-parts, M&A reverse-engineering — calibrated against actual closed transactions.
Transaction Advisory
Capital raises, M&A, and MSO/ASC syndication for healthcare and biotech companies. Current book includes a behavioral health seed-stage raise, a DFW physician-investor ASC syndicate, and a non-equity operating partner role with a healthcare holding company building its VC raise plan.
Read more →Fractional CFO · The Fixers
Productized operator-grade CFO services for physician practices. We took a four-location pain management group from 65-day DSO to 42-day DSO and $3M+ in annual cash flow within six months. Built for practices that need cash-flow stabilization before they're ready for a capital event.
Read more →Investment Analysis · CatalystIQ
Institutional-grade equity research for individual and family-office investors. DCF, rNPV, fundamental analysis, M&A reverse-engineering. The same rigor a Sanofi BD team runs on a target, applied to the positions you actually hold. Coming July 2026.
Visit CatalystIQ →Defense & Federal Healthcare
For ventures, founders, and investors in defense-health, DHA-adjacent, and dual-use medical. Career service: Ops Officer for JTF CAPMED NCR (the $1.5B DoD consolidation merging 3 teaching hospitals & 48 clinics; 439K TRICARE beneficiaries; 9,600 staff).
Read more →Selected active engagements.
Disclosed at the category level. All client-identifying details treated as confidential.
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Behavioral health platform — seed-stage VC raise, in market
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Healthcare holding company — operating partner, VC raise plan build
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Multispecialty ASC syndicate — DFW physician-investor partnership
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Biotech institutional research — DCF + rNPV (CatalystIQ)
CatalystIQ — institutional-grade biotech research, $14.99/month.
An AI-powered biotech and macro research terminal for individual investors and family offices who want institutional-grade analysis without paying $30K per year for a Bloomberg terminal. DCF, rNPV, Monte Carlo simulation, AI-generated Earnings Insight reports, comparable M&A transactions database. Free tier plus $14.99 / month Pro (or $149 / year).
Visit CatalystIQ →Operators who do real finance. Not finance people guessing at operations.
MCS Advisory sits at the intersection of operator and finance — military leadership background, MBA plus dual master's, 10+ years running ASCs and physician practices, equity-research methodology. The same analytical rigor a Sanofi BD team would run on an acquisition target, applied to the practices, platforms, and positions you actually hold.
What buyers ask before they engage us.
What does a fractional CFO engagement with MCS Advisory cost? +
Fractional CFO engagements typically run from $8,000–$25,000 per month depending on the practice size, complexity, and time commitment required. Most engagements are six-month minimums with month-to-month after that. We scope every engagement letter to the specific deliverables — DSO reduction targets, FP&A cadence, capital event preparation, board reporting — so you know exactly what you are paying for.
How long does ASC development typically take? +
From feasibility assessment to first Medicare-certified case, most turnkey ASC projects take 14–22 months. The variables: Certificate of Need (CON) status in your state, build-out vs. ground-up construction, single-specialty vs. multi-specialty complexity, and the speed of physician-investor syndication. We sequence projects to hit accreditation surveys with case volume already committed.
Do you work with PE-backed platforms and family offices? +
Yes. Roughly half of our current book is PE-backed platforms and family-office-backed healthcare ventures. We are typically engaged for MSO architecture, multi-site integration support, fractional executive leadership, and pre-exit financial preparation. References available upon request after initial qualifying conversation.
What is the minimum engagement size? +
Project-based engagements start around $15,000 (e.g., a single financial model, a focused investment thesis, or a fractional CFO assessment). Fractional retainer engagements start at $8,000 / month. Single-day strategy sessions and emergency triage work are scoped separately when the situation requires it.
How are you different from a traditional consulting firm? +
Traditional consulting firms send analysts and produce slide decks. We send senior principals — the only people who work on your engagement are the ones whose names appear on this site. Kays as Managing Partner leads every engagement. Noel C. Pace joins where healthcare law or regulatory work is required. Adam joins for accounting consolidation and ERP integration. No leverage model, no two-by-two matrices, no manufactured insights. You get the operator who has actually done what you need to do.
Do you only work with Tampa-area clients? +
No. We are based in Tampa, Florida but engage with clients across the United States. Current engagements span Florida, Texas (DFW ASC syndicate), and several family-office relationships with national scope. For ASC development and on-site fractional CFO work, we travel to client sites as needed.
Receive our research notes.
Healthcare M&A intelligence, biotech investment notes, ASC and MSO market analysis, and CatalystIQ research previews. Sent when we publish — never more than twice a month.
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Confidential conversations.
Founders preparing for capital events, healthcare holding companies, family offices and institutional investors, multispecialty ASCs and group practices, and physician practices that need cash-flow CFO work. Every initial conversation is with Kays directly.
Request a confidential conversation →