case today. I donât know how my colleagues feel, but orthopods are very infection-adverse, because bone and joint infections have a tendency to stay around for a long time and eat up a lot of the surgeonâs time, even in the best of circumstances. Iâve spoken about this issue with my chief of the medical staff. Heâs the one who clued me in.â
âIâve spoken with my chief of the medical staff,â Niesha said. âI got essentially the same response.â
âDitto for me,â Stewart added. âAll surgeons are risk-averse when it comes to infections.â
âItâs probably too late, in any case,â Angela said, trying to recover from this new blast of bad news. âBut Bobâs question gets to the heart of the reason I called this meeting. First, I wanted you all to hear about everything Dr. Sarpoulus has done concerning our MRSA problem. Of course, I wasnât aware there had been a new case. Iâd truly hoped we were in the clear. Be that as it may, we have to somehow weather the next few weeks.â
Angela then turned to Cynthia. âAngels Healthcare thanks you for your continued efforts, todayâs events notwithstanding. Now, would you mind leaving us for our boring financial discussion?â
Cynthia didnât respond at first. Her coal-dark eyes regarded Angela briefly, then swept around at the others. Without a word, she pushed back from the table and left the room. The door closed with a definitive thump.
For a moment, no one spoke.
âRather headstrong,â Bob commented finally, breaking the silence.
âHeadstrong but dedicated,â Carl said. âSheâs taken this whole problem and its persistence personally. I bet she thinks we are going to talk about her negatively, especially with this new case.â
âIâll assure her tomorrow,â Angela said. âBut now letâs get to the crux of the matter. As you all know, the closing of our IPO is two weeks away. The trick is how we are going to get there without any would-be investor or SEC official finding out about our ongoing cash-flow disaster. Weâve been lucky so far, despite the malpractice suits. Weâre also lucky that the problem with the staph occurred after the external audit, so its impact is not reflected in our IPO prospectus. I know you have all made enormous personal sacrifices. No one in the top echelon has taken any salary over the last two months, and that includes me. Weâve all maxed out our personal credit. I thank you for that. I can assure you we have begged and borrowed from all our investors to the maximum, including a quarter of a million from our lead angel investor syndicate.
âThe irony of this desperate situation is that if the IPO goes as planned, the underwriters have recently guaranteed us five hundred million dollars, meaning we all will be rich and the company will be swimming in cash. Equally as important, our three hospitals proposed for Miami and our three hospitals proposed for Los Angeles will start construction. We are poised to be the first specialty hospital company to go public after the lifting of the United States Senate moratorium on specialty hospital construction, and we are involved in all the most lucrative specialties. The timing could not be more perfect. The sky is the limit. We just have to get there.â
Angela paused and engaged the eyes of each of the people in the room to make sure there was no dissent. No one moved or spoke. Angela briefly glanced down at her notes.
âThere is no blame in this situation,â Angela asserted. âNone of our spreadsheets that we used for forecasting even worst-case scenarios predicted such a catastrophe, where all our ORs would shut down essentially simultaneously. With revenue at near zero and fixed costs high, the burn rate on our emergency capital was enough to leave us here in the home office breathless. But you know all this, and with