Bethesda, MD (June 30, 2016) – Capital One announced today that it has provided a $30 million senior secured revolving credit facility to University Health System, the clinical partner for the LSU Health Shreveport School of Medicine and operator of two hospitals in Shreveport and Conway, Louisiana. Both are safety net hospitals providing healthcare to the general community. University Health System is owned by BRF Hospital Holdings LLC.
“This transaction–which closed just a few weeks after our initial meeting with University Health System’s management–demonstrates Capital One’s deep knowledge of the current healthcare environment, as well as our ability to tailor our financing to a specific customer need,” said Al Aria, Senior Managing Director, Capital One Healthcare.
“Like other hospital systems that serve the community, University Health Systems relies on government funding programs that operate on a complex schedule,” said Richard Cascio, University Health System’s interim Chief Executive Officer. “The Capital One team moved quickly to provide a flexible funding system that allows us to smooth out our monthly cash flows.”
Capital One Healthcare is a leading provider of financial services to the industry with over $11 billion in total outstanding balances. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.
Capital One Healthcare is a part of Capital One Commercial Banking, which leverages a relationship-based banking model that seamlessly delivers an array of products and services including loans and deposit accounts, treasury management services, merchant services, investment banking, international services and correspondent banking.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $221.8 billion in deposits and $330.3 billion in total assets as of March 31, 2016. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
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