Health Care Finance
In recent years, we have completed several hundred M&A transactions with multi-state providers of health care services. Our experience includes representing borrowers in the financing of skilled nursing facilities through US Department of Housing and Urban Development insured financing transactions under Sections 223(f) for senior housing facilities and 232 of the National Housing Act for nursing home and assisted living facilities. We handle transfers of physical assets of facilities with existing HUD financing and assist third-party tenants/operators in connection with these transactions and have particular experience in navigating the challenges that arise when operators have accounts receivable or other financing. We have represented borrowers in numerous bridge-to-HUD financings.
We also represent private equity funds and other sources of equity to the health care industry, as well as lenders to public and private businesses that operate skilled nursing, assisted living, continuing care, retirement, and independent living facilities. We represent buyers and sellers of nursing homes, assisted living and independent living facilities, and a variety of ancillary service businesses in hundreds of transactions throughout the country. Our attorneys have years of experience in starting, financing, and growing early stage, venture-backed health care companies. We advise clients on the regulatory and transactional legal issues faced by companies during accelerating growth.
Arent Fox has participated in a variety of health care facility financings, refinancings, current and advance refundings as bond counsel, borrower's counsel, underwriters’ counsel, or credit enhancement provider's counsel. These financings have involved hospitals, ambulatory centers, senior living facilities, medical office buildings, and nursing homes, and other long-term care facilities.
We have assisted hospitals restructure defaulted loans and have handled numerous failed nursing homes, which involve such issues as transfer of certificates of need, approvals by local and state regulatory agencies, assignment of existing federal contracts, dealing with the allocation of environmental liability, substantial official statement disclosure, the satisfaction of outstanding bondholders and other secured creditors, and resolving the tax consequences of the transfer.