FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Capital One Healthcare Provides $98MM Credit Facility to Formation Capital

December 18, 2015, 08:22 AM
Filed Under: Healthcare

Capital One has provided a senior credit facility to support Formation Capital’s acquisition of RHA Health Services, LLC and its affiliates.  RHA Health Services is one of the largest providers of residential and community-based mental health, substance abuse and intellectual and developmental disabilities services in Georgia, North Carolina, Tennessee and Utah.  The credit facility consists of a five-year, $68.1 million secured term loan and a five-year $30 million revolver, in addition to other treasury and cash management solutions.

“We are pleased Formation Capital chose us to assist them with this transaction,” says Patrick Coffey, Managing Director, Capital One Healthcare. “RHA has a reputation for providing quality care in an important segment of the healthcare market.  We are excited to be working with RHA and expanding our relationship with Formation Capital.”

“We feel that RHA is both an excellent fit and an outstanding opportunity,” says Kelly Sheehy, Managing Director, Formation Capital. “We appreciated Capital One’s responsiveness and flexibility during the underwriting process, which ensured a smooth transition.” 

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.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.