Last year, an analysis by Hammond Hanlon Camp LLC (“H2C”) regarding the potential impact of a recession on the nation’s acute care hospitals suggested that the 2008 to 2011 recession had little, if any, impact on hospitals’ operating financial performance. Our analysis—based on a review of California hospital data from 2006 to 2013, just before the Affordable Care Act took hold—concluded by stating that future recessions are unlikely to be so kind.
Last week’s extreme volatility in global equity and fixed-income markets was a stark contrast to the favorable environment health systems enjoyed in 2019. The S&P 500 declined 10 percent last week and is now 20 percent off of its highest levels hit less than a month ago. The 30-year U.S. Treasury Bond yield dropped to an all-time low of 0.98 percent on Monday and closed at just 1.56 percent on Friday, still near a historic low.
Despite a second year of declining transaction volume, real estate investment trusts (“REITs”) found medical office building (“MOB”) acquisitions in a supply constrained market and accounted for more than 22 percent of the MOB dollar volume in 2019, a 3 percent increase over 2018, an analysis by Hammond Hanlon Camp LLC (“H2C”) shows. Meanwhile, private equity investors—while fewer in number than REITs—accounted for the majority of MOB transaction dollar volume as usual, with $7 billion in volume.
NEW YORK — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to Franciscan Missionaries of Our Lady Health System, a Baton Rouge, La.-based health system (“FMOLHS” or “the System”), in the issuance of $78 million in Series 2019A taxable, fixed-rate direct placement bonds and $150 million in Series 2019B taxable, fixed-rate public bonds.
Healthcare mergers and acquisitions (“M&A”) volume across all major sectors rose 8 percent in 2019, with 768 transactions announced or closed in 2019, compared with 705 in 2018, data from Hammond Hanlon Camp LLC (“H2C”) shows.
Just as hospitals and health systems must gain the trust of the communities they serve as providers of care, so, too, must they establish trusted relationships with the investor community, including investors, lenders, credit providers, and rating agencies. In this article, Hammond Hanlon Camp LLC (“H2C”) and Hall Render share five best practices healthcare organizations should consider in developing their investor relations strategy.
NEW YORK — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, through its wholly-owned subsidiary, H2C Securities Inc. ("H2C"), served as the exclusive financial advisor to John Muir Health (“JMH”), based in Walnut Creek, Calif., in connection with the private placement of JMH’s $45.55 million Series 2019A tax-exempt bonds (“Series 2019A Bonds”).
SAN DIEGO — Nov. 22, 2019 — More than 6,000 people attended HLTH, the industry’s largest health innovation conference, this past October, and Hammond Hanlon Camp LLC (“H2C”) was there, reporting live from our LinkedIn company page.
The third quarter is historically a slow period of transaction activity, and Q3 2019 is no exception in terms of medical office building (“MOB”) dollar volume. In Q3, $2.7 billion in MOB transaction volume across 363 properties was recorded, compared with $3.1 billion across 300 properties in Q2
Healthcare mergers and acquisitions (“M&A”) increased 12 percent from Q2 to Q3 2019 and outpaced Q3 2018 activity by 41 percent, research by Hammond Hanlon Camp LLC (“H2C”) shows. In Q3 2019, 214 transactions were recorded, compared with 191 in Q2 2019 and 152 in Q3 2018. HCIT transactions and continued strong physician practice management and ambulatory surgery center volume helped to drive growth.
Hammond Hanlon Camp LLC (“H2C”) is pleased to share that Bill Hanlon’s article for The Governance Institute, featuring key considerations for healthcare leaders in determining whether direct investment in health tech startups is the right move, is the cover article for the Institute's "System Focus" newsletter.
CHICAGO — Hammond Hanlon Camp LLC (“H2C”) won HFMA’s Helen Yerger/L. Vann Seawell Best Article Award for outstanding editorial achievement for its article on new lease accounting standards in healthcare, published in hfm magazine in December 2018. The article is one of three articles to win this award in FY 2019.
A growing chorus of voices warns of recession. The United Kingdom may already be in one. So, what might happen to hospitals in the event of another recession like the “Great Recession” that began at the end of 2007 and whose effects lasted through 2011?
In part one of H2C’s Seller Strategies Series, H2C outlined notable changes to the tax law and potential implications for healthcare real estate owners and sellers. Part two of this series evaluated Section 1031 Exchanges under the new tax law and Delaware Statutory Trust investing, which are often correlated and can offer sellers attractive solutions for capital gains tax deferment. This third and final installment outlines Opportunity Zone Investing, a new and exciting tax deferral strategy introduced under the new tax law.
Tax law changes have created potential challenges as well as opportunities for sellers of healthcare real estate. In this three-part series from Hammond Hanlon Camp LLC (“H2C”), H2C presents key information as well as transactional strategies that may offer sellers the ability to mitigate potential tax consequences.
SAN DIEGO — Hammond Hanlon Camp LLC (“H2C”),a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to a privately owned healthcare real estate investment company on the sale of a three-building medical office portfolio located in Springfield, Mass. (the “Pioneer Portfolio”).
Following a blockbuster year of healthcare information technology (“HCIT”) fundraising, 2019 is on track to meet or exceed prior periods, with $4.2 billion in funding already secured, Hammond Hanlon Camp LLC (“H2C”) research shows. This compares with $3.4 billion for the first six months of 2018. While transaction value continues to climb, the number of transactions has decreased, with 360 HCIT transactions expected in 2019, down from 376 in 2018 and 363 in 2017.
Tax law changes have created potential challenges as well as opportunities for sellers of healthcare real estate. In this three-part series from Hammond Hanlon Camp LLC (“H2C”), H2C provides a summary of several notable changes to the tax law and present transactional strategies that may offer sellers the ability to mitigate potential tax consequences. The series will explore changes to capital gains and income tax rules that resulted from...
SAN DIEGO — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, through its wholly-owned subsidiary, H2C Securities Inc. ("H2C"),
served as the exclusive financial advisor to Hawai’i Pacific Health (“HPH” or the “System”) in the issuance of Series 2019 Bonds totaling nearly $48.1 million to refinance existing debt. The fixed-rate, tax-exempt bonds...
Healthcare mergers and acquisitions increased 10 percent from Q1 to Q2 2019 and outpaced Q2 2018 activity by 18 percent, research by Hammond Hanlon Camp LLC (“H2C”) shows. In Q2 2019, 192 transactions were recorded, compared with 174 in Q1 2019 and 163 in Q2 2018, with behavioral health continuing to be the sector driving growth.
As H2C predicted in its first-quarter medical office building (“MOB”) report, the second quarter saw strong transaction volume of $3.1 billion, with 300 MOBs trading hands. A large portion of the activity was attributed to Welltower Inc.’s (“Welltower’s”) closing of the 55-property CNL Healthcare Properties (“CNL”) portfolio, which CNL put under contract in early Q1, for $1.25 billion.
Ambulatory investment, including investment in ambulatory surgery centers (“ASCs”), continues to be viewed as a critical strategic move among healthcare organizations, especially large health systems, H2C research shows. Last year, Tenet Healthcare Corp. increased its investment in an ASC chain even as it divested other assets. Meanwhile, a recent poll shows 48 percent of hospitals and health systems plan to make additional ASC investments.
According to an August 2018 Reuters/Ipsos poll, 70 percent of those surveyed support Medicare for All (“M4A”), including more than half of Republicans surveyed. This followed a June 2017 survey by the Kaiser Family Foundation that found a majority of Americans favored a single-payer health system. In this survey, as well as countless articles and opinion pieces addressing the subject of healthcare reform, cost is far and away the central issue driving Americans’ interest in change.
A final rule that expands access to telehealth as a basic benefit for Medicare Advantage members, beginning in 2020, opens the door for seniors to receive telehealth services from their home as well as senior living facilities, community health centers, and more. But will it be enough to spur increased adoption of telehealth from healthcare providers?
Capital partnerships were a hot topic at the BOMA International Medical Office Buildings + Healthcare Real Estate Conference, where leaders for Hammond Hanlon Camp LLC (“H2C”) led two panel discussions and spoke with experts from across the industry.