top of page
Hammond Hanlon Camp LLC Advises HealthEast on $50MM Taxable Debt Issuance
posted on January 19, 2017


ATLANTA — Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as the exclusive financial advisor to St. Paul, MN-based HealthEast in connection with its taxable debt issuance.  The debt proceeds funded an unfunded pension liability on HealthEast’s pension plan, refinanced outstanding debt and financed new capital projects.


Due to federal mandates that have increased funding requirements on unfunded pension liabilities, HealthEast’s management team, with the help of H2C, analyzed the costs related to its frozen pension plan and concluded that it was economically beneficial to retire the plan as soon as possible.  Simultaneously, HealthEast identified other capital needs and refinancing opportunities that could be included in a single, comprehensive, long term debt issue. Combining all of these financing needs, the H2C team was able to structure a new taxable loan that reduced HealthEast’s annual debt service obligations.


As the team prepared to commence the financing in August 2016, actuaries determined that funding the pension termination by the end of September would reduce the cost.  With a financial incentive to close as quickly as possible, the experienced financing team was able to select a new banking partner, craft legal documents and close the financing in only 20 days.  


”H2C’s proactive approach to the process allowed for a smooth closing in less than a month.  They understood our objectives and were able to work with the banks and various legal teams to secure funding on very attractive terms and conditions in a very short period of time,” said Doug Davenport, SVP and Chief Financial Officer at HealthEast.


“Our knowledge of HealthEast helped us anticipate their goals and objectives and deliver an excellent result.  Having their trust empowered us to manage the process on the expedited time frame” said Rich Bayman, Principal at H2C.


623 Fifth Avenue
29th Floor
New York, NY 10022



3333 Piedmont Road
Suite 700
Atlanta, GA 30305



311 South Wacker Drive
Suite 5425
Chicago, IL 60606



4655 Executive Drive

Suite 280
San Diego, CA 92121


"[H2C] understood our objectives and were able to work with the banks and various legal teams to secure funding on very attractive terms and conditions in a very short period of time."

     - Doug Davenport

       SVP and CFO



HealthEast, the leading health care provider in the Twin Cities’ East Metro area, inspires optimal health and well-being with a full spectrum of family health and medical services for the community.  Throughout its hospitals, clinics and outpatient programs, HealthEast is dedicated to delivering transformative, compassionate care and a wide range of wellness choices to the many neighborhoods it serves.  HealthEast includes Bethesda Hospital, St. John's Hospital, St. Joseph's Hospital and Woodwinds Health Campus.  Visit HealthEast at



Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States.  H2C’s professionals have a long track record of success in healthcare mergers and acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value.  Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC.  For more information, visit



Dara Litwin
Hammond Hanlon Camp LLC

bottom of page