William J. Colgan is a recognized industry leader in the healthcare field, with an extensive leadership background (25+ years) in a myriad of healthcare initiatives, businesses and programs. Throughout his career, Mr. Colgan has emphasized the importance of preserving and/or developing new community-based healthcare facilities in order to improve the access to and quality of patient care, as well as to create jobs and protect tax ratables. His notable achievements include the formation of a nationwide revenue cycle management firm, the acquisition and repurposing of numerous closed or bankrupt acute care hospitals, the development of new medical programs (i.e., through physician recruitment, regulatory approvals, etc.), as well as the management of numerous ground-up medical office development projects.
In the mid-1990’s, Mr. Colgan co-founded Armanti Financial Services, LLC (“Armanti”). Under his direction, Armanti quickly became an industry leader, and grew into one of the nation’s largest service providers to hospitals and physician practice groups. Armanti’s goal was to help its clients achieve their financial goals without compromising the quality of patient care. With an emphasis on identifying unique solutions for its clients, Armanti helped to improve the provision of community-based healthcare services, all the while protecting the uninsured and expanding its clients’ profitability.
As a co-founder and current Managing Partner of CHA, Mr. Colgan has spearheaded the acquisition and repurposing of four (4) former acute care hospitals in the State of New Jersey, namely the former Barnert Hospital (Paterson), the former Greenville Hospital (Jersey City), the former William B. Kessler Memorial Hospital (Hammonton), and the former Muhlenberg Hospital (Plainfield). In each case, CHA transformed vacant, abandoned structures into vibrant providers of local, regional and national healthcare services, including in the areas of women’s health, urgent care, subacute, behavioral health, adult medical daycare, ophthalmology, dialysis, and more. In addition, Mr. Colgan has developed several ambulatory surgical centers in each of these facilities, including expertly navigating the areas of group formation, licensure and construction.
CHA’s most recent hospital acquisition was completed in Q1 2019, as it facilitated the creation of a not-for-profit entity, Salem Medical Center (“SMC”), to acquire the former Memorial Hospital of Salem County. This acquisition was instrumental in ensuring that inpatient, outpatient and other healthcare services would remain locally available to the residents of Salem County. With its federally-recognized 501c-3 non-profit designation, SMC now operates as a stand-alone, independent organization guided by a volunteer board, made up of many local members, with only the best interests of the hospital and the local community in mind.
Mr. Colgan recently served on New Jersey Governor Phil Murphy’s healthcare transition team, and has moderated and/or been a panelist at numerous healthcare conferences, including those hosted by NAIOP, CapRate, iGlobal, BisNow and Mid Atlantic Real Estate.
Mr. Colgan received a BS in Bio-Medical Engineering from Rutgers, The State University of New Jersey, College of Engineering.