Contemporary Healthcare Capital, LLC, (CHC) is delighted to be a sponsor of the 2012 NIC Regional Symposium and National Skilled Nursing Investment Forum March 25-27, 2012 at the Boca Raton Resort Hotel, Boca Raton, Florida. (CHC) is a leading provider of senior mortgage, mezzanine debt and equity to healthcare companies throughout the United States. We manage four investment funds.
CHC offers the flexibility of custom tailored financial solutions designed to match your specific company and needs.
If you are seeking financing for your healthcare transaction, or wish to learn more about our products, please schedule an appointment by contacting Doug Korey, Managing Director, Contemporary Healthcare Capital, LLC at dkorey@contemporarycapital.com or telephone 732-578-0533, ext. 222 or Chris Claps, Senior Vice President at cclaps@contemporarycapital.com or telephone 732-578-0533 x224.
Contemporary Healthcare Senior Lien Fund, LP has provided a senior mortgage loan of $3,250,000 and an A/R line of $400,000 to a skilled nursing facility located in Ohio.
The purpose of the financing was to provide funds for the acquisition of the facility, capital improvements, working capital and to pay closing costs.
As stated by our borrower, "CHC really set themselves apart with very obvious and extensive long term care expertise, and the ability to structure financing not regularly available in this market. Doug Korey and CHC flawlessly executed and fulfilled on every statement that was made, both with regard to timing and their ability to offer aggressive financing that is simply unattainable elsewhere. I look forward to continuing a relationship with CHC as our company continues to grow with our financing needs".
Contemporary Healthcare Capital, through Contemporary Healthcare Senior Lien Fund, LP and Contemporary Healthcare Fund I, LP, has provided $5,300,000 in senior mortgage, mezzanine, and preferred equity financing for the acquisition and renovation of a licensed assisted living and memory care facility located in North Carolina
"The team at Contemporary Healthcare Capital did an outstanding job anticipating our financing needs and fulfilling them", stated the Borrower. "Together we worked seamlessly through the commitment and closing process to meet our every expectation."
Contemporary Healthcare Senior Lien Fund I, LP has provided a $6,000,000 Construction Mortgage Loan and Contemporary Healthcare Fund I, LP has provided a $4,075,000 Mezzanine Loan for the construction of a to-be-built dementia care facility located in Sun City West, Arizona.
The team at Contemporary congratulates the principals and wishes them success in their new venture. We look forward to more opportunities to assist in the company's continued growth.
Contemporary Healthcare Senior Lien Fund I, LP has provided a $4,500,000 Senior Mortgage Loan for the recapitalization of a dementia care facility, located in New Port Richey, Florida.
At Contemporary, we strive to respond to our clients' needs in a timely, adequate and innovative manner. We are extremely pleased to have the capacity to offer flexible products through our new senior fund.
After a scathing report from the Senate Finance Committee "link to article" showed that some private home health care companies were providing the most profitable number of therapy visits regardless of patient need, the industry is starting to react..
In a prepared statement, the National Association of Home Care and Hospice (NAHC) commended the Senate for calling to change the Medicare payment model.
"There have been systemic Medicare payment problems since its inception in 2000. Home health care has recommended that Medicare set payment rates based on the nature of the patient rather than the volume of services rendered, therapy or otherwise," said Val J. Halamandaris, president of the National Association for Home Care & Hospice. "We have long been concerned that the current model discourages home health agencies from providing the care that was appropriate for the individual patient needs."
The Senate's report found certain companies were pushing home visits on patients to reach the 10-visit threshold after which Medicare payments for the patient increase, generating extra revenue for the companies providing the care. Gentiva, one of the companies named in the report said it stands by its practices.
"Gentiva maintains its belief that the company is providing the highest quality of care and receives payment within the standards set forth by the reimbursement system established by the Centers for Medicare and Medicaid Services (CMS)," said the company in a statement.
The home care industry has recommended a series of legislative proposals that would remove the level and amount of therapy as a determent in payment.
"Medicare's proposed reforms may be viewed as a step in the right direction, but we believe that there are better ways to go than continued reliance on the number of therapy visits for determining the payment amount. We are somewhat concerned with the Medicare proposal that increases payments if the patient receives no therapy, while decreasing payments if they do," said Halamandaris.
"Patients should get what they medically need, not what a payment model directs. Therapy is an essential service that helps patients return to independence, saving Medicare from higher costs while improving patients' lives. There should not be incentives to deny patients' care any more that than we should encourage unnecessary care utilization through a payment model," he noted.
Shrewsbury, NJ - As the Congressional Super Committee begins work on cutting the national debt by $1.2 -$1.5 trillion, senior healthcare industry leaders are struggling to adapt to new Reimbursement Utilization Group Protocols (RUGs-IV) and potentially significant additional cuts in Medicare and Medicaid reimbursement the committee may enact.
"Since the implementation of an 11.1% net reduction in Medicare funding was announced last July, providers have been struggling to adjust their billing practices, patient census mix and staffing requirements to address the looming reductions in funding. While an 11.1% reduction is significant it should be notes that even after such a cut funding would remain about 3% above what it was prior to the funding increases of the past few years," comments Douglas A. Korey, Managing Director of CHC (Contemporary Healthcare Capital, LLC), a Shrewsbury, NJ based firm that specializes in financing healthcare facilities. "Unfortunately, the highly publicized funding reductions coupled with the national dialogue about debt reduction and an uncertain regulatory environment are discouraging investors from entering the healthcare market and reducing the amount of capital available for the construction, renovation and acquisition of skilled nursing facilities."
According to Korey, the reimbursement changes and shortage of institutional capital create opportunities for companies in the middle market that operate from five to 25 facilities. It can be more difficult for large national chains to respond quickly to changes in funding and regulation because of their shear size whereas smaller facility operators can react quickly to remain profitable.
"Although market conditions support investment in middle market facilities, it is often difficult for operators to acquire the necessary capital for acquisitions and renovations in the present climate. It can take a year or more to access government agency funding, making these sources impractical for certain operations in an evolving healthcare environment," explains Korey. "At CHC, we've recently introduced our seventh fund, the Contemporary Healthcare Senior Lien Fund I, LP (CHSLF). Through CHSLF we will provide senior mortgage financing for construction, turnaround financing, acquisitions and refinancing as well as traditional revolving lines of credit for working capital. As the name suggests, CHSLF focuses on skilled nursing, assisted living, dementia care and retirement campuses."
One of the major advantages of CHSLF is CHC's ability to respond rapidly to the need of its clients. CHC can close senior mortgage loans in as little as 30 to 60 days. The fund will provide leverage of up to 90% loan to cost and 85% loan to value. Additional funding is also available through CHC's mezzanine and equity products.
Contemporary Healthcare Capital, LLC owns and operates funds that specifically target the healthcare industry. Over the past 12 years the firm has loaned and invested t this industry in over 30 states. CHC has an experienced team of investment professionals who can facilitate the most difficult financing scenarios
For more information contact Doug Korey at 732-578-0533 ext. 222 or email dkorey@contemporarycapital.com.
Contemporary Healthcare Capital, LLC, (CHC) is pleased to announce the grand opening of its seventh fund, Contemporary Healthcare Senior Lien Fund I, LP (CHSLF). CHSLF, a licensed Small Business Investment Company, provides senior mortgage financing for construction, turnaround financing, acquisitions, substantial renovations, and refinancing for skilled nursing, assisted living, dementia care and retirement campuses throughout the United States. The fund will also provide traditional revolving lines of credit for working capital.
"We believe that this fund is incredibly important to the industry today, particularly given the turbulent capital and reimbursement climate that we are working in," stated Doug Korey, managing director of CHC. "In particular, with a severe shortage of construction, renovation and turnaround capital available to most operators of long term care and senior housing facilities today, coupled with a need to retool our aging skilled nursing stock in this country, I can think of no better time than now to open such a fund."
The fund will provide for leverage up to 90% loan to cost/85% loan to value. Additional leverage is available through CHC's mezzanine and equity products, creating the ideal bridge structure for operators. All products, including the equity products can be prepaid, allowing operators the ability to own and control their facilities, thus optimizing their upside.
For more information about our company, please contact Doug Korey at (732) 578-0533 ext. 222, email him at dkorey@contemporarycapital.com, or visit us on our website: www.contemporarycapital.com.
Contemporary Healthcare Capital, LLC owns and operates funds that specifically target the healthcare service industry. For the past dozen years, CHC's team has continuously loaned and invested to this industry in over 30 states. CHC has an experienced team of healthcare investment professionals who can tackle your most difficult financing proposal.
Contemporary Healthcare Capital, LLC (CHC) is pleased to announce that it has become a 2011 Official Partner of the National Investment Center for the Seniors Housing and Care Industry (NIC). The NIC is a leader in providing data, research, networking events and professional education to the seniors housing and care industry.
"We are extremely pleased to join the NIC in this partnership," stated Doug Korey, managing director of CHC. "As a perfect storm approaches between the impact of the country's recent recession on the capital markets and the baby boomers' entry into retirement age, our industry needs capital to meet the needs of operators, who in turn seek to meet the needs of our seniors. For 20 years, the NIC has provided invaluable research and networking events to investment professionals and operators. For over 15 of these years, the CHC management team has provided capital to these operators. Now, given the challenges that the industry faces, we feel that it is important to increase our level of support for the NIC. We look forward to working with the NIC work through the challenges and assist our industry continue its growth."
CHC is a leading provider of mezzanine, senior mortgage, and equity financing to healthcare service operators throughout the United States. CHC has a seasoned team of professionals who bring years of expertise in healthcare lending and investing to their customers. For more information about our company, please contact Doug Korey at (732) 578-0533 ext. 222, email him at dkorey@contemporarycapital.com, or visit us on our website: www.contemporarycapital.com.
Contemporary Healthcare Capital, LLC, (CHC) is delighted to be a sponsor of the 2011 NIC Regional Symposium and National Skilled Nursing Investment Forum March 7-10, 2011 at the Hyatt Regency Century Plaza Hotel.
(CHC) is a leading provider of senior mortgage, mezzanine debt and equity to healthcare companies throughout the United States. We manage six investment funds.
CHC offers the flexibility of custom tailored financial solutions designed to match your specific company and needs.
If you are seeking financing for your healthcare transaction, or wish to learn more about our products, please schedule an appointment by contacting Doug Korey, Managing Director, Contemporary Healthcare Capital, LLC at dkorey@contemporarycapital.com or telephone 732-578-0533, ext. 222.
Contemporary Healthcare Capital is pleased to announce a new product for long term care/senior housing operators. Many operators today have short term equity needs that require fast execution. These equity needs could be (but are not limited to), buying out a partner, renovating a facility, adding a wing to a building, recapitalizing a transaction where there is a current maturity due, acquiring a building that requires a turnaround of operations, etc. CHC's new product is targeting those operators who have a vision on how to utilize this equity and redeem that equity at a fixed rate of return within 12 to 24 months of closing. Given the short term nature of the product, CHC will offer extremely attractive yield requirements to the user of this product. The user of this product therefore is incentivized to improve value quickly and then work with CHC to redeem the product, thereby capturing the upside value for themselves. This product is specifically designed for those experienced in operating healthcare facilities, not to real estate speculators or pure developers.
CHC will offer this product based on a minimum of $1 million and a maximum of $10 million. CHC retains its current product lineup which allows for longer term investment horizons.
Contemporary Healthcare Capital is a full service lender and equity investor (senior mortgage, mezzanine, equity and construction), solely focused on healthcare. CHC is comprised of seasoned professionals that have been through numerous credit and reimbursement cycles. We are well capitalized and are fully capable to assist you with your growth.
For more information about this new product, as well as Contemporary's complete product line, please contact:
Doug Korey at (732) 578-0533 dkorey@contemporarycapital.comContemporary Healthcare Fund I, L.P. has provided a $14,100,000 senior loan in connection with the acquisition and substantial rehabilitation of an assisted living and memory care facility located in southern New Jersey.
Contemporary Healthcare Capital is pleased to have had the opportunity to provide the financing for this project and we look forward to expanding this new client relationship.
Contemporary Healthcare Capital Fund I, L.P. has provided a $5,500,000 mezzanine loan to a licensed skilled nursing facility located in Bristol, TN. The proceeds will be used to refinance and restructure existing debt.
At Contemporary Healthcare Capital, we aim to provide tailored solutions to meet our clients' needs.
Contemporary Healthcare Capital Fund I, LP has provided a $3,600,000 Senior Mortgage Loan for the acquisition and renovation of a licensed assisted living facility with a memory care unit located in Charlottesville, VA.
Per Doug Korey, Managing Director of Contemporary Healthcare Capital "CHC welcomes the opportunity to start a new productive relationship and we look forward to working with the principals on future projects."
Contemporary Healthcare Capital Fund I, LP has provided a $1,030,000 Term Loan to a provider of medical and diagnostic imaging services headquartered in Columbia, South Carolina with centers in six states.
These funds were provided to acquire two currently managed centers in Ohio and to fund working capital.
Per Doug Korey, Managing Director of Contemporary Healthcare Capital "At CHC we work hard to provide our clients with flexible solutions and to grow our relationships. We are pleased to have closed this transaction and we look forward to providing solutions for their next project."
Contemporary Healthcare Capital Fund I, LP has provided a $1,400,000 mezzanine loan to a licensed skilled nursing facility located in Monroe, WA. The funds have been used to refinance existing debt and for closing costs.
Per Doug Korey, Managing Director of Contemporary Healthcare Capital, "We are pleased to have had the opportunity to provide financing for two transactions within a short period of time. We look forward to working with the team and assisting in their growth."
Contemporary Healthcare Capital Fund I, LP has provided a $2,250,000 mezzanine loan to licensed skilled nursing facility located in Spokane, WA. The funds have been used to finance the acquisition of the Collateral Facility and for closing costs.
Per Doug Korey, Managing Director of CHC: "We are extremely pleased to have completed a successful transaction and we look forward to a long and productive relationship"
Contemporary Healthcare Capital Fund I, LP has provided a $1,800,000 mezzanine loan to a licensed skilled nursing facility, located in Austin, TX. The proceeds will be used to renovate the facility, for working capital and closing costs
Per Doug Korey, Managing Director of Contemporary Healthcare Capital "CHC values our long-standing relationship with the principals and wishes them continued success in their endeavors."
Contemporary Healthcare Fund I, LP has provided a $4,000,000 Term Loan and has also provided a $1,550,000 A/R Line of Credit to a company that operates and/or manages 15 diagnostic imaging centers located in six states. The purpose of the financing is to provide funds to refinance existing debt, provide liquidity and to pay for closing costs.
Per Mr. Doug Korey, the managing director of Contemporary Healthcare Capital, "This is the third financing we have provided to the company. We are pleased to grow our client relationship and to continue to provide timely flexible solutions to fulfill our clients' needs".
Contemporary Healthcare Fund I, LP has provided an $875,000 Term Loan to licensed providers of Medicare reimbursed home healthcare services headquartered in Bridgeport and Southfield, MI.
The loan proceeds were used for the purpose of acquiring 100% of the assets to provide working capital and pay for closing costs.
Per Doug Korey, Managing Director of CHC: "We stand behind our clients and we are extremely pleased to have completed a successful transaction."
With the NIC Annual Conference just weeks away, there are many choices still yet to make. One of the more important choices is meeting with the right lender. As a result of the credit crisis, many lenders have exited or significantly scaled back lending to our industry. What makes Contemporary unique is that we have continued to lend even during these difficult times.
Contemporary Healthcare Capital (CHC) is a full service lender and equity investor (senior mortgage, mezzanine, equity and construction), solely focused on healthcare. CHC is comprised of seasoned professionals that have been through numerous credit and reimbursement cycles. We are well capitalized and are fully capable to assist you with your growth. In fact, we continue to grow with new creative financing products. Come get a glimpse and give us your input!
Please contact us to schedule a meeting in our executive suite. As with every NIC Conference to date, our schedule will fill up quickly so please let us know of your interest as soon as possible. Whether we get a chance to meet or not, we wish you a productive NIC Conference.
To schedule a meeting, please call or email Doug Korey at (732) 578-0533 or dkorey@contemporarycapital.com
Contemporary Healthcare Fund I, LP has provided a $725,000 term loan to an owner/operator of two outpatient therapy clinics located in Washington, DC.
Per Mr. Doug Korey, Managing Director of Contemporary Healthcare Capital: "CHC is pleased to provide the term loan and wishes the principal success in pursuing his long-term goals and objectives."
Contemporary Healthcare Capital Fund I, LP has increased its lending commitment to pay for development costs for the initial stages of construction of a comprehensive rehabilitation and nursing center. The principals expect to bring a state-of-the-art care facility to one of the most recognized medical communities in the country.
Doug Korey, Managing Director of Contemporary Healthcare Capital, is very excited to have had the opportunity to provide financing for the development of this facility and assist in their growth.
Contemporary Healthcare Capital Fund I, L.P. has provided a $1,000,000 asset based loan to a licensed provider of home healthcare services in Texas. The loan will be used to refinance existing indebtedness of the company and to support its continued growth.
According to Doug Korey, the managing director of Contemporary Healthcare Capital, "We are pleased to be able to provide timely solutions to our clients' continued financing needs."
Contemporary Healthcare Capital Fund I, LP has provided room for increase to a previously closed Term Loan. The company is a provider of medical and diagnostic imaging services in Kissimmee, FL. The funds will provide additional liquidity and flexibility to the Borrower.
Per Mr. Doug Korey, Managing Director of Contemporary Healthcare Capital: "We work closely with our clients to understand their needs and come up with flexible mutually beneficial solutions."
Contemporary Healthcare Fund I, LP, has provided a Mezzanine Loan increase to a licensed Memory Care facility located in Happy Valley, Oregon.
Per Mr. Doug Korey, Managing Director of Contemporary Healthcare Capital, "We value our long-term relationship with the principals and we wish them continued success."
Contemporary Healthcare Capital Fund I, LP has provided a $1.6 million Bridge Loan and a $3.9 million Mezzanine Loan for the acquisition and renovation of a licensed assisted living facility to be converted to a licensed dementia care facility. The facility is located in New Port Richey, Florida.
Per Mr. Doug Korey, Managing Director of Contemporary Healthcare Capital: "We are very excited to have had the opportunity to provide funds for the transaction and we wish the group success in their undertaking."
Contemporary Healthcare Capital Fund I, LP has provided a $1,360,000 Term Loan to a provider of medical and diagnostic imaging services in Kissimmee, Florida. The purpose of the financing is to provide funds for the acquisition of a diagnostic imaging center, new equipment purchases, working capital and to pay for closing costs.
Doug Korey, Managing Director of Contemporary Healthcare Capital "This is the second project we have financed for the principals and we are excited to continue growing our relationship. CHC is committed to providing financing solutions that best fit our clients' needs".
SHREWSBURY, NJ - Contemporary Healthcare Fund I, LP (CHF I) was recently named the 2010 Small Business Investment Company of the Year during National Small Business Week, an event sponsored by the United States Small Business Administration.
Since 1963, The United States Small Business Administration has marked National Small Business Week by recognizing firms that have made outstanding contributions to our nation's economy.
"We are honored to receive this prestigious award," said Doug Korey, Managing Director of Contemporary Healthcare Capital. "For well over a decade, we have been providing financing to the small to mid-sized healthcare providers, which represent the core of the nation's healthcare industry. Small businesses are a vital component to this country's economic engine. By maintaining consistent financing to these companies even through our recent recession, not only do patients continue to obtain quality care, but thousands of people throughout the country are retained in the workforce."
Eric Smith, Director of Contemporary Healthcare Capital added, "We have had an extraordinary year. In addition to being named SBIC of the year, we reached a professional milestone when Ziegler Healthcare Fund I (ZHF I), an affiliate of Contemporary Healthcare Capital Company repaid its outstanding United States Small Business Administration guaranteed debentures bringing a successful close to very profitable fund."
The ZHF I fund was licensed in 2000 and CHF I was licensed in 2007 by the SBA, as SBIC's. The SBIC program is a joint venture program between private equity and the government to make loans and investments to small and medium sized businesses in the U.S. ZHF I is an $80 million fund that in its 10-year history has made over $135 million in loans and equity investments to healthcare service providers in over 30 states. CHF I is a $125 million fund that is actively making loans and investments throughout the country.
Located in Shrewsbury, NJ, Contemporary Healthcare Capital is a healthcare finance company specializing in mezzanine, equity and senior debt. CHC manages five other healthcare funds. Collectively the company has approximately $435 million under management. With more than 20 years of applicable industry experience, the team at Contemporary Healthcare Capital offers unmatched knowledge, professionalism and success.
Contemporary Healthcare Capital has funded the first draw of a $1,350,000 Term Loan to a provider of medical and diagnostic imaging services in Coral Springs, FL. The funds were provided for the acquisition of a diagnosing imaging center, to finance new equipment purchases, to provide working capital and to pay for closing costs.
According to Doug Korey, the managing director of Contemporary Healthcare Capital, We are pleased to start a new client relationship through this financing and we will continue working with the principals to provide flexible solutions to assist their growth.