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Landmark has a new consultant

February 10, 2011

Image of Joshua Nemzoff from his website at Nemzoff.net

During the legal minutiae at the hearing on Landmark Medical Center’s accelerated plan to  find a buyer, the Department of Health and the Attorney General’s Office expressed some concerns about the role of “Mr. Nemzoff,”  particularly the cost of his services.

Who is Mr. Nemzoff?  He is Joshua Nemzoff- the new mergers and acquisitions consultant hired by Lifespan’s Special Master Jonathan Savage.

Savage says Nemzoff started working with the Landmark team around the first week of January.  Nemzoff was recommended by PricewaterhouseCoopers at some point after Landmark’s negotiations with Caritas stalled.

The state said it wasn’t aware that Savage made the decision to actually hire Nemzoff, to which Silverstein replied he thought he was clear about the move, and “the horse is already out of the barn” on that decision.

Savage will not discuss how much Nemzoff is being paid or what the nature is of his contract.  In court, he told Judge Silverstein he talks to Nemzoff frequently for advice- they spoke by phone six times on Tuesday.

Landmark spokesman Bill Fischer says Nemzoff has been extremely helpful in helping the hospital attract and deal with potential buyers.  Nemzoff’s website lists praise from a range of clients.

A Wall Street Journal article about Nemzoff (among the press articles posted on Nemzoff’s website) describes Nemzoff as an aggressive deal maker.

In a career that has spanned eight employers in 20 years, the barrel-chested health-care consultant has berated colleagues and clients, and regularly infuriates bidders interested in the very hospitals he is paid to sell. “Josh is an extremely talented individual,” says Donn Szaro, Mr. Nemzoff’s former boss at accounting firm Ernst & young. “He’s just always in your face.”

The article mentions “not infrequent tantrums” including one where he slammed his key ring into a banker’s conference table, leaving a large gash.  Once, he installed his own  phone and fax machine when the phone system at his accounting firm wasn’t up to his standards.

“I guess they thought I was being my usual obstreperous, obnoxious self,” Mr. Nemzoff says now. “But their phone-mail system sucked.”

But despite his aggressive behavior, Nemzoff is still described as “The best there is at selling a facility.”  Let see if his confrontational style is what Landmark needs.

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