Senior Associate, Transaction Advisory Services, Healthcare

Company: Intrinsic
Location: Chicago
Posted on: April 4, 2026

Job Description:

Why This Role Matters Healthcare M&A is not like other sectors. The financial statements are shaped by forces that general-purpose diligence analysts routinely miss, reimbursement structures, payor mix dynamics, revenue cycle behavior, cost reporting, and regulatory exposure that sit underneath the numbers and change what they mean. A quality of earnings analysis in healthcare is not the same as one in distribution or manufacturing, and the advisors who understand that difference are the ones PE sponsors want on their deals. We are building a dedicated Healthcare Transaction Advisory practice at Intrinsic, and this Senior Associate role is a core part of that build. You will work exclusively on healthcare-sector engagements, buy-side and sell-side diligence for middle-market PE sponsors investing across physician services, behavioral health, home-based care, dental, veterinary, and other healthcare services businesses. Your sector knowledge is not a credential we will occasionally reference. It is the foundation of how you contribute. The right person for this role brings genuine healthcare context, from audit, accounting, finance, or prior transaction work inside the sector, and is ready to apply it in a fast-moving deal environment. If you already come from a transaction advisory background with healthcare deal exposure, that is equally strong. What matters is that when payor mix shifts in a QoE analysis or revenue cycle irregularities surface in a data room, you know what you are looking at. Why Intrinsic A dedicated healthcare practice — not a firm where healthcare is one deal type among many, but a focused capability being built with intention Real deal exposure from day one — your analysis feeds directly into deliverables that PE sponsors use to make investment decisions on live transactions Private, independent firm with significant employee ownership — when the firm wins, you win A team that develops people deliberately — you will receive direct, substantive feedback that accelerates your technical and sector-specific growth Hybrid flexibility — based in Denver with meaningful remote options A clear path forward — strong performance at the Senior Associate level earns expanded scope, VP-level responsibility, and a defined trajectory within a growing healthcare-focused practice What You Will Do Healthcare-Informed Financial Analysis Build QoE analyses, NWC assessments, debt-like item schedules, and revenue trend exhibits Apply sector context to the numbers, payor mix impact on revenue quality, revenue cycle irregularities, and provider cost structures Surface the healthcare-specific adjustments that change how a sponsor thinks about normalized earnings Data Room & Workstream Management Own the data room: track incoming documents, maintain the open request list, keep the team moving Manage your workstreams with structure, know when to resolve independently and when to escalate Navigate healthcare-specific materials, payor contracts, cost reports, credentialing files, and compliance documentation efficiently Report Drafting & Quality Draft sections of the financial due diligence report under the VP and Director's direction Connect findings to sector-specific drivers: what a reimbursement shift means for forward earnings, what a revenue cycle backlog signals, what payor concentration creates in terms of risk Self-review thoroughly; the Director's your sections should not require heavy editing before they go up the chain Client Preparation & Sector Research Build financial exhibits and prepare sector-informed questions for management calls and client discussions Help develop diligence request lists that reflect how healthcare businesses are structured and where financial risk typically lives Contribute to healthcare sector research, reimbursement trends, regulatory developments, and M&A activity, which sharpens the practice’s market perspective Team Coordination & Junior Development Support Associates on your engagements, orient them to workpapers, answer healthcare-specific questions, and hold the standard Model the precision and work ethic the role demands; how you work is as instructive as what you say What Makes You a Fit Your background is grounded in healthcare: At least 1 year of experience in one of the following: healthcare audit or accounting (health system, physician group, payor, or healthcare services); financial due diligence with meaningful healthcare deal exposure; or financial analysis within a healthcare organization Working knowledge of the financial mechanics that drive healthcare businesses: revenue cycle, payor mix and reimbursement structures, managed care contracting, cost reporting, or provider compensation models Ability to read healthcare financial statements with sector-informed judgment, you understand not just what a number says, but what it reflects about how a healthcare business operates A bachelor’s degree in Accounting, Finance, or a related field; CPA licensed or actively pursuing it is preferred You bring the analytical foundation the work demands: Strong Excel proficiency — you build clean, accurate, well-structured workpapers and financial exhibits without significant rework Experience working through large, complex datasets with precision and a structured approach Demonstrated ability to identify what matters in a set of financials and explain it clearly, not just describe what you see Clear written communication — you can draft a section of a report that is logically organized and does not require heavy editing Meticulous attention to detail — you catch your own errors before anyone else does, and you hold your work to a consistent standard You are built for deal environments: Compressed timelines and shifting priorities do not derail you; you recalibrate and keep the work moving You ask good questions and surface issues early rather than waiting for the deadline to reveal them You take feedback directly and apply it; you treat it as input to improvement rather than criticism You are intellectually curious about how healthcare businesses actually work, not just how their financials are structured Total Compensation & Benefits Base Salary: $75,000 – $115,000 annually (based on experience, skills, and qualifications) Bonus: Eligible for an annual discretionary bonus of 15% of base salary Benefits Package: Medical, dental, and vision insurance 401(k) with employer contribution Paid time off (vacation, sick leave, company holidays) Paid parental leave Hybrid/remote work flexibility Professional development support and continuing education reimbursement

Keywords: Intrinsic, Mishawaka , Senior Associate, Transaction Advisory Services, Healthcare, Accounting, Auditing , Chicago, Indiana