Overview

As the health care industry continues to consolidate, evolve and innovate, the need for available capital is greater than ever. And with increasing pressure to improve access and quality while containing costs, health care entities need sophisticated finance counsel who can advise on strategies for obtaining funding to support their growth and operational goals, including bond issues, credit facilities, acquisition financing, project financing, and real estate and construction loans.

We have extensive experience in structuring, negotiating and facilitating complex health care financing transactions to help public, private and nonprofit health care providers achieve their objectives. We consult with lawyers from our Commercial & Public Finance and Tax practices to identify and execute the arrangements best suited to our clients’ needs.

Experience

Illustrative examples of our experience advising on financing transactions include:

  • Serving as bond counsel in connection with the issuance of over $117 million of tax-exempt hospital facility revenue bonds for the construction of an eight-story patient care tower in Ohio.
  • Serving as bond counsel in connection with the issuance of over $39 million of tax-exempt health care facilities revenue bonds for a nonprofit retirement community in Ohio.
  • Serving as bond counsel to an Ohio hospital system, including with respect to the issuance of over $290 million in revenue bonds since 2016 to refund prior bond issues benefitting the hospital system and/or to finance the conversion of a psychiatry inpatient services unit, the construction of an ambulatory neurosciences facility and other capital projects.
  • Advising an Ohio hospital system regarding its master trust indenture and its taxable and tax-exempt commercial lending matters, including a $20 million taxable loan to the hospital system to refinance its prior debt and the extension of the bank interest period for a $24 million bond issue benefitting the hospital system that was purchased and held by a commercial bank.
  • Serving as counsel to the bond purchaser in connection with the purchase of $30 million of tax-exempt hospital facility revenue bonds for the acquisition, construction, remodeling, equipping and furnishing of various hospital improvements, including an inpatient rehabilitation center.
  • Serving as counsel to the bond purchaser in connection with the purchase of $127 million of tax-exempt hospital facility revenue bonds for various hospital improvements, including a new emergency department, and the refinancing of prior outstanding bonds.
  • Serving as bond counsel in connection with the issuance of $2.4 million of tax-exempt health care facilities revenue bonds for a drug rehabilitation services facility.
  • Serving as tax counsel to a hospital, advising on structuring new market tax credits, negotiating tax provisions and providing tax opinions on transactions for an expansion.