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Health Care Financing

Related Practices

Rankings & Honors

  • Consistently ranked by ThomsonReuters among the top ten bond counsel and underwriter’s counsel in the country, and among the most active disclosure and special tax counsel
  • In five of the last seven years, nominated as a finalist or winner as counsel to “Deals of the Year” by The Bond Buyer, the municipal market’s paper of record
 

HEALTH CARE FINANCING

In public finance and health services, our Health Care Financing group delivers the right team for any health care project.

Our approach

Our Health Care Financing group has worked on hundreds of projects that have raised tens of billions of dollars over the last 20 years for institutions providing medical care, conducting life sciences research and providing residential and support services to seniors and disabled individuals. We have served as bond counsel and play other roles in financings for health care facilities throughout the nation.

We work hard to remain the trusted legal advisor to organizations shaping the future of health care services. Our financing capabilities cover projects and programs for the entire array of health care delivery providers, both in new construction and renovation projects. We work with standalone hospitals and health systems with multiple hospitals and affiliates, and long-term care providers. Plus, we have extensive experience in public health institutions, including city/county hospitals, hospital districts and public academic medical facilities.

Representing a wide range of institutions, projects and financing techniques enables us to customize how we structure and document health care finance transactions to fit the unique needs of each client. At the same time, we preserve flexibility for future financing and refinancing needs.

We work with

  • Hospitals
  • Health systems
  • Academic medical institutions
  • Hospital districts
  • Cities and counties
  • Conduit issuing authorities
  • Lenders
  • Underwriters
  • Long-term care institutions (CCRCs, ALFs, and nursing homes)

Industry depth

Our Health Care Financing team is bolstered by having a nationwide Health Care practice. We understand the business of health care. Our Health Care practice group consists of attorneys experienced in all areas affecting hospitals and health systems, academic medical centers, physician groups and individual physicians, health plans, clinics and facilities, nursing homes, home health agencies, and other providers of health services, including regulatory matters; licensing and certificates of need; fraud and abuse; reimbursement and payment systems counseling; compliance counseling and government investigations; physician, hospital, and medical staff issues; health information technology and privacy; telemedicine; graduate medical education and residency accreditation; physician group practice/management companies; physician/ hospital alignment strategies—IPA, PHO, provider networks and ACOs; managed care contracting and network development; research compliance and FDA regulatory compliance; health care litigation; and health care reform.

Recent experience

  • Catholic Health Services of Long Island: We acted as bond counsel to the Suffolk County Economic Development Corporation and the Nassau Local Economic Assistance Corporation on a joint issuance of $245,230,000 tax-exempt bonds on behalf of Catholic Health Services of Long Island. This was the first joint bond financing by two local development corporations for a single borrower in New York. Catholic Health Services of Long Island is one of the largest obligated group hospital systems in the state and the refinancing of their existing bonds resulted in significant cash flow savings to the system and provided financings for new projects across the system. William Weir worked on this transaction
  • Devereux Foundation: Our attorneys have served as borrower’s counsel to the Devereux Foundation, the largest nongovernmental provider of mental health services in the nation, which has financed or refinanced projects with tax-exempt bonds for its facilities in Pennsylvania, Arizona, California, Colorado, Florida, Georgia, New Jersey, New York and Texas.
  • Massachusetts Development Finance Authority: We acted as bond counsel to MDFA in connection with the issuance of $4,750,000 Revenue Refunding Bonds (Stone Institute and Newton Home for Aged People Issue), Series 2011, the proceeds of which were used for the financing and refinancing of improvements at a skilled nursing facility.
  • Surgical Unit Expansion, Brookhaven NY: We acted as bond counsel to the Town of Brookhaven Local Development Corporation in connection with the issuance of $20,105,000 Revenue Bonds, Series 2012A (John T. Mather Memorial Hospital of Port Jefferson, New York, Inc. Project), the proceeds of which were used for the construction and equipping of a new building to be connected to the existing hospital to house a new medical/surgical unit and the renovation of an expansion to the hospital’s first and second floors.
  • Work with major bond issuers: Members of the Public Finance group have worked with some of the major issuers of tax-exempt bonds for health care facilities including the Massachusetts Development Finance Agency (“MDFA”) and its predecessor agency, MassHEFA, Rhode Island Health and Educational Building Corporation, New Hampshire Health and Educational Facilities Authority, New York City Health and Hospitals Corporation, Dormitory Authority of the State of New York (“DASNY), New Jersey Health Care Facilities Financing Authority and The Hospitals and Higher Education Facilities Authority of Philadelphia, as well as many industrial development agencies and local development corporations in New York.

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Health Care & Senior Living Facilities