SFS’ decision to introduce this additional lending capability was driven in response to the tightened credit and bond markets that left many healthcare providers struggling to fund desired capital projects, says Ted Drake, senior vice president and general manager of healthcare finance for SFS.
Mr. Drake says healthcare providers currently face a challenging environment when it comes to capital projects. Healthcare reform will add an additional 32 million people to the insured rolls, which is expected to increase demand. As a result, hospitals may want to respond with expansion projects, but the economic meltdown made funding difficult to attain.
This new financing capability is primarily targeted at providing broader financing products in support of hospitals and outpatient facilities (i.e. ambulatory surgery centers, dialysis centers, oncology centers) that can be owned and operated in part or whole by hospitals. They are also interested in providing these financing solutions to support other hospital capital needs.
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