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Article: Siemens Financial Services, Inc. Provides $29.5 Million Credit Package to Avanti Health System.(Company overview)
- Article from:
- Investment Weekly News
- Article date:
- April 25, 2009
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Siemens Financial Services, Inc. ("SFS") announced that it has provided a $29,500,000 credit facility to the Avanti Health System, LLC ("Avanti") and Asset Funding Group, LLC ("AFG") to fund hospital acquisitions in California. The five-year senior credit facility consists of a revolving line of credit and term loan.
The loan package facilitated the purchase of HealthPlus Holdings, LLC ("HealthPlus"). HealthPlus owns and operates Memorial Hospital of Gardena and East Los Angeles Doctors' Hospital. AFG facilitated Avanti's acquisition through a sale-leaseback of the real property owned by the hospitals.
"Avanti is committed to providing quality ...