H2C News

H2C Financing Transactions Making Headlines in 2020

posted November 11, 2020

​H2C has been privileged to serve as financial advisor to some of the nation’s leading not-for-profit healthcare systems. In 2020, H2C guided clients through an uncertain market and delivered outstanding results, including achieving the lowest taxable long-term rate on record for a not-for-profit healthcare system. Below are select H2C financial advisory transactions.

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H2C Client Transactions • H2C Advises Health System on $135 Million of Real Estate Acquisitions

posted November 3, 2020

Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive real estate and financial advisor to a nationally recognized, not-for-profit health system based in the Midwest (“System”) in connection with its $135 million acquisition of seven medical office buildings (“MOB”) throughout its primary market area. 

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H2C Industry Insights • 3Q20 MOB Report: Health Systems Make Strategic Moves in Second Full COVID-19-Impacted Quarter

posted October 29, 2020

This is H2C’s second quarterly medical office building (“MOB”) report reflecting the full impact of the COVID-19 pandemic. While COVID-19 continues to weigh on transaction volumes, with volumes totaling only $1.6 billion, marking the lowest quarterly transaction volume since Q1 2014, the MOB sector continues to show remarkable resilience in pricing. Average cap rates saw a slight decline of five basis points in Q3 2020, with the average cap rate for MOBs falling to 6.55 percent.

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H2C Perspective • Investor Relations During COVID-19: What Healthcare Leaders Should Consider

October 22, 2020

Even before COVID-19, regularly communicating a healthcare organization’s objectives, performance, strengths, and challenges—whether financial or operational—was critical to establishing trusted relationships with the investor community. Now, with uncertainty going forward due to COVID-19, proactively communicating with investors should be a top-of-mind strategy for health system leaders.

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H2C Industry Insights • Q3 Healthcare M&A Recovers but Still Trails 2019

October 15, 2020

Data from the Hammond Hanlon Camp LLC (“H2C”) mergers and acquisitions (“M&A”) database shows 173 transactions were announced in Q3 2020, a 9 percent increase over Q3 2019 figures. This increased the year-to-date total to 454, which represents a 7 percent decrease versus year-to-date 2019, when 486 transactions were announced. Much of the year-to-date decline can be attributed to a slower Q2 2020, which saw a 28 percent decrease in volume year-over-year amid the start of the coronavirus pandemic. 

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H2C Client Transactions • H2C Advises NorthShore University HealthSystem on the Issuance of $517.1 Million Series 2020 Bonds

October 8, 2020

CHICAGO — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, through its wholly owned subsidiary, H2C Securities Inc., served as the exclusive financial advisor to NorthShore University HealthSystem (“NorthShore”), Evanston, Ill., on the issuance of $517.1 million in tax-exempt bonds, consisting of $380.4 million in fixed rate bonds and $136.7 million in variable rate demand bonds.

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H2C COVID POV • Winners and Losers in a COVID-Fueled Recession

October 7, 2020

As of this writing, no one knows what the economic consequences of the COVID-19 pandemic will be. But if there is to be a pandemic-related recession—and if the recession looks something like the last one—the results of H2C’s stress testing suggest that four key factors will be critically important to hospitals and health systems...

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H2C Client Transactions • Advises Centra Health on Divestiture of Rivermont Schools

October 6, 2020

ATLANTA — Oct. 6, 2020 — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to Centra Health (“Centra”) on its sale of Rivermont Schools (“Rivermont”), the leading special education provider in Virginia, to Salisbury House, LLC (“Salisbury”).

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H2C Advises St. Luke's Hospital on Acquisition by McLaren Health Care

October 1, 2020

ATLANTA — Oct. 1, 2020 — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to St. Luke’s Hospital (“St. Luke’s”), a regional health provider in Maumee, Ohio serving Greater Toledo, on the system’s acquisition by McLaren Health Care (“McLaren”), a fully integrated health network based in Grand Blanc, Michigan.  St. Luke’s will become McLaren’s first hospital outside of Michigan.

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H2C Secures Joint Venture Equity for Development of a State-of-the-Art Inpatient Rehabilitation Facility in QOZ

September 30, 2020

NEW YORK— Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused strategic advisory and investment banking firm, served as the exclusive financial advisor to a privately held joint venture that is developing a 48-bed, 51,580-square-foot inpatient rehabilitation facility (“IRF”) in Phoenix, Ariz., to be known as “Reunion Rehabilitation Hospital Phoenix” (the “Property” or “Project”).

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H2C Advises ProCare LTC on Strategic Investment from a Private Equity Firm

September 24, 2020

NEW YORK — On February 3, 2020, Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive financial advisor to ProCare LTC (“ProCare” or “the Company”) on a strategic investment in the Company by Sverica Capital Management LP (“Sverica”), a private equity investment firm.

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H2C COVID POV Series • Telehealth Implications in a Post-COVID World

September 23, 2020

Of the many things to have emerged from the COVID-19 pandemic, the rise in the use of telehealth may be one of the most profound. Because the term “telehealth” is not yet universally defined, we mean here the business processes and technologies that enable, or should enable, consumers to access healthcare providers, obtain care, enable providers to remotely monitor chronic conditions, or, in more serious cases, gain well-curated referral to the appropriate care provider(s).

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H2C Perspective • What's Our Cost of Capital? ...and other tricky questions from not-for-profit hospitals and health systems

September 16, 2020

At H2C, we frequently get this question from our clients: “What is our cost of capital?” It’s an important question that would seem to have a straightforward answer. But like many important questions, the answer requires context and knowledge. 

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H2C Advises Tower Health on Monetizing Healthcare Real Estate During COVID-19 Pandemic

September 15, 2020

NEW YORK — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive financial advisor to Tower Health (“Tower” or “the System”) on the monetization of a 23-asset medical office and healthcare real estate portfolio.

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H2C Industry Insights • Why PACE Presents Strong Opportunity for Investment

September 9, 2020

The growing trend toward community-based, integrated care continues to gain momentum, and this trend may even be accelerating in the midst of the pandemic. One of the more recent developments in community-based care is the formation and expansion of Programs for All-Inclusive Care for the Elderly, or “PACE,” also known in the mid-Atlantic states as “LIFE,” or Living Independence for the Elderly.

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H2C COVID POV • Redefining Normal: Exploring the Short-Term and Lasting Impact of COVID-19 on Health Care

August 20, 2020

Since the coronavirus outbreak emerged in the United States earlier this year, much of what has occurred in health care to date has been in direct response to the immediate demands of the crisis environment. These actions range from the initial scramble for medical supplies and efforts to diagnose and treat patients to the explosion in demand for telehealth services to help limit the spread of disease and the global race to discover ...

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H2C Industry Insights • 2Q20 MOB Update: MOB Pricing Holds Steady in First Full COVID-19 Impacted Quarter

August 18, 2020

This is H2C’s first quarterly medical office building (“MOB”) report since the impact of the COVID-19 pandemic played out through an entire quarter of activity. Notably, H2C had one of its most active quarters in advising health systems in their monetization and disposition efforts, with over $200 million in transaction volume advised. 

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H2C Advises PACE of the Southern Piedmont on Sale to Kintegra Health and Lutheran Services Carolinas

August 11, 2020

Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive investment banker and financial advisor to PACE of the Southern Piedmont in its sale to Kintegra Health and Lutheran Services Carolinas. PACE stands for Program of All-Inclusive Care for the Elderly.

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H2C Industry Insights: Private Equity Interest in Healthcare Remains Strong Despite COVID-19

July 17, 2020

Despite the COVID-19 pandemic’s unprecedented disruption to healthcare delivery, private equity firms are actively looking to continue deploying capital. Hammond Hanlon Camp LLC (“H2C”) conducted nearly 75 discussions with healthcare-focused private equity investors across the country this spring. While new deal flow among private equity investors decreased significantly between March and May, most private equity firms ...

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H2C Industry Insights: Why Now Could be the Right Time to Monetize Healthcare Real Estate

July 15, 2020

As hospitals and health systems consider strategic shifts in response to COVID-19—such as building out telehealth offerings to meet demands for virtual care and seeking ways to increase liquidity to manage the financial stress associated with the pandemic—many should contemplate the trapped value in their owned real estate portfolios.

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H2C Industry Insights: Q2 Healthcare M&A Activity Dips, but Select Sectors Remain Resilient

July 10, 2020

 

Data from Hammond Hanlon Camp LLC’s (“H2C”) mergers and acquisitions (“M&A”) database shows 120 transactions were announced in Q2 2020, a 25 percent decline over Q1 figures. This increased the year-to-date total to 281, which represents a 14 percent decrease versus year-to-date 2019, when 328 transactions were announced. Much of the decline can be attributed to the post-acute sector, which experienced an active first half of 2019. Some interesting trends emerged in other sectors as well.

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H2C In the News: H2C Advises Advanced Home Care on the Sale of Medical Equipment, Home Health, and Home Infusion Segments

June 29, 2020

Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive financial advisor to Advanced Home Care (“AHC”), a post-acute healthcare company owned by 13 not-for-profit healthcare systems in the Southeast, in the sale of its medical equipment business to AdaptHealth Corp. (“AdaptHealth”), a leading provider of home medical equipment and supplies, and its home health and specialty infusion segments to BrightSpring Health Services (“BrightSpring”), a private company backed by KKR.

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H2C Perspectives: What Does Post-COVID Recovery Look Like for Orthopedics? Key Considerations for Practice Leaders

June 23, 2020

Prior to COVID-19, the future looked bright for orthopedics, one of the fastest-growing healthcare segments and a market described as “white hot” less than a year ago. Globally, experts projected the orthopedics market would grow from $52.8 billion in 2017 to $66.2 billion by 2023, driven by demand for orthopedic care from aging-yet-active Baby Boomers, increased awareness of small-joint implant options, and technological...

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H2C Industry Insights • 1Q20 MOB Report: Record First-Quarter Acquisition Volume, Solid Activity as COVID-19 Environment Plays Out

June 9, 2020

During a relatively normal transaction environment for the majority of the first quarter, average medical office building (“MOB”) cap rates reached a historic low of 6.62 percent. However, because transaction data is a lagging indicator of activity, H2C has grounded its insights around first-quarter MOB activity with observations obtained through current marketing of MOB portfolios in a COVID-19 environment.

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H2C Industry Insights: Reconsidering Options for Independent Hospitals and Health Systems Post COVID-19

May 28, 2020

Hospitals and health systems are essential pillars in their communities, often serving as one of their community’s largest employers and an important driver of the local economy. For not-for-profit healthcare organizations, maintaining independence and autonomy through local control of this essential community resource is frequently a priority. However, the pressures independent hospitals and health systems have...

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    © Hammond Hanlon Camp LLC. All rights reserved.  Hammond Hanlon Camp LLC is a wholly owned subsidiary of Fifth Third Acquisition Holdings, LLC and an indirect subsidiary of Fifth Third Bank, National Association.  Fifth Third Bank, National Association is engaged in a broad range of financial and securities activities.

     

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