Pere-Cap

MAGNA Healthcare Group Inc.

A WORLD CLASS HEALTHCARE TEAM

Greg Lustig

Chairman of the Board
Greg Lustig

The Magna Healthcare team is led by Greg Lustig as its Chairman of the Board. Mr. Lustig is an honors graduate of Wittenberg University and Case Western Reserve University School of Law. Originally making his name as a highly successful M&A and real estate attorney, he became one of the premier sports agents in professional sports, negotiating more than 150 pro sports contracts, including four that set new industry standards for the highest contracts in NFL and MLB history. In the ’80s, Mr. Lustig added real estate syndication to his business profile, responsible for more than $300 million in deals. Recognized for his creative structuring and deal-making, Lustig ultimately became a real estate tax shelter syndicator on Wall Street, working with such houses as LF Rothchild, Sterling, and Prudential Bache. In the early 90’s, after selling his sports management company, Mr. Lustig temporarily returned to practicing law, winning in 1993, the largest wrongful death case in Ohio history. He subsequently joined one of his clients, Trust One, a Washington, D.C.-based merchant banking firm engaged in real estate REO acquisitions as its Executive VP and General Counsel. Shortly later, after becoming a partner in the firm, Lustig created and led as Managing Partner its investment banking division, specializing in complex corporate turnarounds. Over a twenty-year period, Mr. Lustig successfully led the turnaround of nine companies including Charles Givens Organization, the nation’s largest financial education and seminar company, with over 1.2 million clients and $300 million in revenues and Fox Fiber Optics, a national long-distance carrier. After moving to Miami in 1997, Lustig joined Practice Solutions, the #1 healthcare M&A firm, leading 11 medical and dental practice roll-ups in his year with the firm. Moving to Boca Raton, Florida in 1998, he started the first of his three real estate investment banking firms before leaving to perform his last complex corporate turnaround of Clarity Diagnostics, a national branded manufacturer of rapid diagnostic tests and related medical devices, which he led for six years. Mr. Lustig currently serves as the Chairman of the Board of PERE Capital Partners, a private equity, M&A and real estate advisory firm.

Chairman of the Board

John Parigi

CPA – CEO of Administrative Healthcare Services
John Parigi

MAGNA’s community hospital group is led by John Parigi, a CPA and CEO of Administrative Healthcare Services.  Parigi is a recognized comprehensive healthcare expert with strong skills in hospital leadership, operations, financial reporting, information technology, compliance, cost management, revenue cycle, project management, process improvement, productivity, and complex corporate turnarounds. Parigi is particularly known for having successfully completed 150 complex hospital turnarounds without a single failure. In addition, he has created plans of action leading in various assignments to the collection of $3.5 million in uncollected/unbilled claims; increases in cash collections by 37% while liabilities decreased by 18%; increases in cash by 750% in three years; developing standardized processes, policies, and procedures for the entire patient revenue cycle; reducing AP from 90 to 45 days; increasing EBITA by $1 million while reducing supply expenses by $1.5 million increasing at another hospital cash from $20 million to $40 Million and in another hospital increasing cash by 634% in less than two years. Mr. Parigi also has extensive M&A experience, having coordinated the M&A of Kingfisher Hospital with Mercy Hospital; lead consultant and financial analysis for best practice for the merger between MultiCare and Good Samaritan and has led multiple transitions. Parigi has a lifetime of contacts at the C level with most hospital groups and healthcare REIT’s which we believe will prove to be invaluable in identifying acquisition candidates as well as in staffing the hospitals we acquire. Mr. Parigi who will serve as Vice-Chairman and CEO of MAGNA, will lead the integration and turnaround processes.

CPA – CEO of Administrative Healthcare Services

Mario Gallo

President
Mario Gallo

Mario Gallo, CEO and co-founder of PERE Capital Partners, is a proud graduate of USC with a long, successful career in healthcare sales, real estate, and fundraising for funds. Gallo is a well-recognized entrepreneur in Southern California, having started GM Construction Solutions, SoCal Real Estate Ventures, which had developed multiple funds having raised over $4.8 billion in capital for them with Family Offices, Registered Investment Advisors, Broker-Dealers, and CPA Business Management Groups and through other financial platforms. In addition, Gallo, as President of Camden Real Property Group, oversaw the public offering for its currently traded fund. Gallo also serves on the Advisory Boards for Cook Capital and Terra Capital Fund. Gallo has extensive knowledge of all aspects of real estate, powerful marketing skills, and abundant contacts in the Capital Markets, which will prove invaluable to the MAGNA group. Gallo will lead our capital raise as well as serve as its President.

President

Dave Weinerman

Senior Vice President
Dave Weinerman

David Weinerman, who created the concept of a community hospital roll-up, is a graduate of San Diego University and has thirty years of experience in healthcare revenue cycle management. His experience includes patient balance recovery as a principal in one of the largest medical receivable collection companies in the nation, inventory management, process flow development and executive management. Weinerman has successfully developed and managed investor relationships, raising millions in a privately owned and managed real estate development company in Beverly Hills. Weinerman will serve in similar capacities for MAGNA as its Senior VP.

Senior Vice President

Equity raised
$ 0 B
Hospital turn-arounds
0 +
M & A Transactions
0 +
Successful Rollups
0 +

Magna is a healthcare company created by the founders of PERE Capital Partners, Greg Lustig and Mario Gallo, both of whom have significant experience and expertise in business, private equity, and the capital markets to turn around and roll-up distressed hospitals with untapped growth potential in stable markets.

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PERE feels the healthcare system is one of the most essential cornerstones of every modern society. It must be protected at all times to preserve the well-being and quality standards of living for our communities.  Since the pandemic, 44% of all hospitals in the US have been operating at a loss with Hospital closures and bankruptcies becoming commonplace, with as many as 600 hospital closures in 2023 alone. If these distressed hospitals are allowed to close, competition will significantly decrease, resulting in skyrocketing prices for patients. It is for these reasons that PERE Capital Partners has created the Mangna Healthcare Group, which is committed to this cause while simultaneously producing healthy returns for their financial partners.

We will add value by successfully turning around these hospitals by establishing more efficient billing, coding, and collection procedures; renegotiating insurance carrier agreements; adding new specialty surgical procedures; updating medical equipment, testing, and medical devices; renovating and modernizing the facilities; adding telemedicine to hospitals; improving medical procedures and the professional staff.  By centralizing services at the corporate level, economies of scale are realized.

Magna’s exit strategy is to sell the Company or its assets in five years to a large hospital network, PE Fund, strategic buyer or a family office from its extensive list of relationships with such buyers. Assuming we can complete our intended goal of purchasing 20 facilities at an average cost of $5 million during that period, once we have turned around these hospitals, they will be worth an average of $50-$60 million each. Over our five-year intended holding period, if our profitability reaches even 7%, which is the lowest profitability margin for hospitals today, our portfolio should be worth at least $1.96 billion without taking into account revenue growth.

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