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Health Care Finance

Ice Miller has a national reputation in health care finance based on the depth of our experience, the versatility and creativity of our attorneys and the well-established relationship we have with our long-standing clients.

Our industry contacts and deep knowledge allow us to provide innovative financing options to our clients. We work closely with our clients’ nonprofit boards, executives and staff to ensure a smooth transaction that delivers on our clients’ objectives by providing the highest level of service.

The Firm is well-suited to represent any party to a financing, but we servehave extensive experience serving as bond counsel, underwriter’s counsel or lender’s counsel on financings for hospitals and health systems. We take a collaborative and team-oriented approach in assisting with all types and aspects of transactions including:
 
  • Refundings and New Money Projects
  • Fixed and Variable Rate Financings
  • Bank Loans & Direct Purchases
  • Securities & Disclosure Matters
  • Interest Rate Swaps & Novations
  • Intercompany Loans and Guarantees
  • Mergers, Reorganizations and Dispositions of Assets
  • Taxable Corporate Bonds
  • Tax-exempt Obligations
Our exceptional services extend beyond the closing of the transaction providing counsel on post-issuance matters that include, but are not limited to, arbitrage rebate compliance, review of Schedule K to the Form 990, credit and liquidity facility extensions and replacements, post-issuance compliance best practices, document amendments, remediations and IRS audits. We are committed to providing our clients with comprehensive, high-quality advice and counsel at a reasonable cost.
 

Representative Experience

Ice Miller’s health care finance team has proudly served as:
 
  • Bond counsel to the restructuring of Indiana health system portfolio involving 19 series of fixed rate, variable rate and direct purchased bonds totaling over $500,000,000 in the aggregate principal amount and related swap novations having combined notional amounts of 2,000,000,0000.
  • Bond counsel to health system refinancing of its health facilities in an aggregate principal amount totalling over $500,000,000.
  • Bond counsel to the affiliation of multiple county hospitals and nonprofit health systems.
  • Underwriter's counsel to Ohio health system fixed rate bond issue and establishment of a commercial paper program.
  • Underwriter's counsel for a senior living financing of multi-site life plan communities.
  • Bond counsel to county hospitals' financings of new facilities with the proceeds of a USDA Rural Development Loans.
  • Bond counsel to health system affiliation with rural county hospitals.
  • Bond counsel to catholic health system refinancing and conversion of its portfolio of auction rate securities and subsequent credit facility extensions and replacements.
  • Rebate counsel to health care bond issues providing arbitrage calculations and the related rebate opinions.
  • Borrower's counsel to senior living and acute care borrowers of tax-exempt bonds.
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