InnovatiVe Capital

Financing HOSPITALS. Dedicated to CLIENTS. Committed to COMMUNITIES
InnoVative Capital Transactions
 
     
Morehead Memorial Hospital
"I cannot overemphasize the profound impact InnoVative Capital's debt refinancing has delivered to Moreheadís bottom-line and its ability to reinvest in our hospital and its personnel. The opportunity they developed and presented to our Board was rare for a community hospital. To be able to lower our interest rate by almost one-percent, improve our twelve-month cash flow by $630,000, and produce debt service savings of $240,000 per year for each of the next nineteen years, without any increase in our loan amount or cash outlay was the ultimate win-win. "
W. Carl Martin | President and CEO
Morehead Memorial Hospital
     
“Our variable rate debt needed to be refinanced at the same time we were pursuing funding for our hospital expansion. With our BBB rating, we anticipated borrowing through the issuance of tax-exempt hospital revenue bonds. InnoVative Capital presented our board with a creative and attractive alternative… Two individual FHA 242 mortgage insured taxable loans, collateralized with Ginnie Mae securities. Taking advantage of record-low long-term interest rates for AAA government securities, InnoVative Capital was also able to eliminate our negative arbitrage through the use of FHA construction loan certificates. I am pleased to report that acting as our FHA mortgage banker, InnoVative Capital delivered an extremely low blended interest rate and reduced our transaction expenses.”
Bruce White | CEO
Knox Community Hospital
Knox Community Hospital
     
Effingham Hospital
“InnoVative Capital developed Effingham Hospitalís project financing on its own initiative and then approached our CEO and CFO, with a proposal that they could finance a $30 million hospital modernization project using FHA 242 mortgage insurance. With the full support of our board, as our financial advisor, their strategic planning led our team of consultants, set our capital budget, and worked through an arduous county approval process. As our mortgage banker, they structured our record-low 3.63% Build America Bond financing. Their community outreach educated our board and County Commissioners and led to the passage of a County tax. Throughout the FHA underwriting process, InnoVative Capital gave us confidence we would receive HUDís approval. This outcome is very satisfying for our hospital and the people of Effingham County.”
Richard R. Rafter | Chairman
Effingham Hospital Authority
     
     
“InnoVative Capital's leadership of the financing process defined the scope and budget for the project, enabled us to meet timelines and the expectations of our board and staff. In doing so, I believe InnoVative Capital saved our hospital money by preventing unwarranted expenses, and accelerating the FHA 242 process.”
Daryle Voss | Former CEO
Matagorda Regional Medical Center
Matagorda Regional Medical Center
     
The Memorial Hospital
“A new hospital was a necessity and we had to seize the moment. While our hospital was profitable, InnoVative Capital advised our Board that due to the cost of our project TMH required additional revenue sources to afford our loan and meet HUD's underwriting standards. In coordination with our bankers at InnoVative Capital, a tax initiative to supplement the financial operations of TMH was undertaken. With their help, our voters approved a dedicated hospital mil tax for a term of 40 years, which forecasts additional revenue of $1.5 million per annum for TMH. The financial security provided by this tax was the key in obtaining HUD's approval of our FHA 242 mortgage insurance application.”
George Rohrich | CEO
The Memorial Hospital
“As our banker and advisor, InnoVative Capital’s judgment was on target before, and throughout, the FHA process. InnoVative Capital’s financial metrics right-sized our project, so we never exceeded our debt capacity limits and afterwards, they financed our FHA 242 insured mortgage loan without a hitch. By educating our Board and the Hospital Authority, InnoVative Capital built a trust that was essential in expediting key decisions.”
Alan Kent | President and CEO
Meadows Regional Medical Center
Meadows Regional Medical Center
     
Citrus Health and Rehabilitation Center
“InnoVative Capital worked tirelessly from beginning to end to expedite the financing and, during the course of the transaction, helped us overcome numerous hurdles that could have easily derailed the process.”
Debra C. Lockwood | Executive Vice President & CFO
Provident Resources Group, Inc.
     
“InnoVative Capital provided strategic planning in modeling the equity/debt mix and security structure for the financing of our renovation project. As our financial advisor, they assembled the bond underwriting group, led the Rating Agency process and represented OVGH in the bond pricing. Their efforts led to a very successful bond sale and favorable interest rates for our hospital.”
William Day | Former CFO & VP of Finance
Ohio Valley General Hospital
Ohio Valley General Hospital
     
Shoshone Medical Center
“We faced major obstacles to securing financing; including a serious cash deficit, an inability to pledge a mortgage and a management and project team without FHA 242 experience. InnoVative Capital successfully structured our financing, avoiding a significant cash requirement and creating a first-of-its-kind leasehold security pledge. They were available around the clock to advise the working group. With their help, we successfully closed our loan and became the first district-owned CAH to use the FHA 242 program.”
Gary M. Moore | CEO
Shoshone Medical Center
     
“Based on InnoVative Capital’s reputation for getting difficult deals done, we retained their services to help us get our financing back on track, after our previous financing source failed to live up to their promises. InnoVative Capital delivered! They directed all aspects of the financing process. No detail was too small. Their efforts culminated in a successful non-rated tax-exempt bond offering for our start-up hospital project. We could not be more pleased with their efforts on our behalf.”
Billie Carol Green | Former Chairman
Doctors' Hospital
Doctors' Hospital
     
Shorefront Jewish Geriatric Center
“InnoVative Capital’s senior living underwriting expertise and familiarity with New York City codes and regulations was essential in obtaining the timely receipt of HUD’s FHA mortgage insurance commitment and completing the financing of our client’s long-overdue multimillion renovation project in Brooklyn.”
Matthew P. Scanlon | Principal
healthcare Network Associates (Financial Advisor to Shorefront Geriatric Center)
     
“From the start of its engagement with our hospital, InnoVative Capital preached the advantages of critical access hospital status to hospital management and our board. They worked with us to convert to a CAH as a method of increasing the feasibility of our replacement hospital through enhanced cost-based reimbursement. Once we received our CAH designation, North Valley became an attractive applicant for FHA 242 mortgage insurance and as our FHA mortgage banker, InnoVative Capital financed our new $29 million award-winning Planetree hospital.”
Craig Aasved | Former CEO
North Valley Hospital
North Valley Hospital
     
Somerset Court at University Place
“InnoVative Capital was able to obtain approval from HUD for a unique senior/sub debt structure, which leveraged a subordinated loan through the Local Initiatives Support Corporation to significantly reduce our required equity contribution. This enabled Diversified Senior Services to obtain maximum funding for our new assisted living venture.”
William G. Benton | Chairman and CEO
Diversified Senior Services
     
“Obtaining HUD credit approval for a start-up skilled nursing facility is not easy. It requires a carefully conceived project that meets, but does not exceed, the needs of the new facility’s service area population. A very compelling underwriting recommendation from an FHA mortgage lender is a must. The essentiality and feasibility of the project were presented by InnoVative Capital sufficient to obtain our FHA 232 mortgage insurance commitment.”
San Antonio Office | Southwest Region
U.S. Department of Housing and Urban Development
Stone Oak Care Center
     
Summit Hospital
“We retained InnoVative Capital to advise us on the intricacies of financing a start-up for-profit community hospital with FHA 242 mortgage insurance. Their comprehensive knowledge of the program proved invaluable in successfully completing the financing process. We look forward to working with them again in the future.”
K. Robert Bauer, Jr. | President & CEO
Ameris Health System, LLC
     
“InnoVative Capital advised us throughout our debt refinancing, which produced debt service savings sufficient to allow us to fund much-needed capital equipment purchases. We could not have been more pleased that this financing opportunity was brought to our attention.”
Brad Hardcastle | Former CFO
Daviess Community Hospital
Daviess Community Hospital
     
Regional Medical Center of Orangeburg and Calhoun Counties
“As the result of InnoVative Capital’s financial forecast modeling and consulting efforts, we gained long-awaited board approval for our $25 million bond issuance. InnoVative Capital’s sensitivity analysis was the deciding factor in helping the board understand the benefits derived from incorporating leverage into our balance sheet. I enjoyed working with them and would definitely use their services again!”
Cheryl Mason | CFO
Regional Medical Center of Orangeburg and Calhoun Counties
     
“InnoVative Capital's knowledge of hospital finance and dedication to successfully completing a transaction has been demonstrated on each project. Regardless of the issue, InnoVative Capital is always available to guide our clients through the process of obtaining timely and cost-effective funding.”
John Waltko | Vice President
Quorum Health Resources (QHR)
Quorum Health Resources (QHR)
     
DeSoto Memorial Hospital
“Before we sought financing assistance from the USDA program to renovate our facility, which had been damaged by multiple hurricanes, we retained InnoVative Capital to provide its consulting services. With InnoVative Capital’s assistance, we determined the appropriate loan amount and successfully obtained affordable financing for our project.”
Nancy Frisby | Former Vice Pres. & CFO
DeSoto Memorial Hospital
     

Contact Information:

Phone: 610-543-2490
Fax: 610-543-2491
eMail: corporate@innovativecapital.com

 
HUD-Licensed FHA Mortgage Lender and SEC/MSRB Registered Municipal Advisor
Invested in rural communities and hospitals
FHA Mortgage Banking | FHA Section 242 Mortgage Insurance Program | FHA 242 Loans | Rural Hospital Finance | Critical Access Hospital Finance
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InnoVative Capital is a HUD licensed FHA mortgage lender and SEC/MSRB-registered municipal advisor, specializing in the mortgage financing of rural hospitals, community hospitals and critical access hospitals using the FHA 242 Mortgage Insurance Program, tax-exempt and taxable bonds, bank debt, USDA Loans, and equity strategies. InnoVative Capital provides cost-effective and expedient access to the capital markets for hospitals, senior living, nonprofits and municipalities, as well as mergers and acquisitions representation and turnaround support.

InnoVative Capital 1489 Baltimore Pike, Building 400 | Springfield, Pennsylvania 19064 | Phone: 610-543-2490 | Fax: 610-543-2491

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