Ohio Valley Health Services and Education Corporation
Opus Bank’s Healthcare Banking division leads $50,000,000 credit facility for Ohio Valley Health Services and Education Corporation
Overview of Transaction
- Ohio Valley Health Services and Education Corporation (“Ohio Valley”), founded in 1890, is a not-for-profit acute care health system operating hospitals in Wheeling, West Virginia and Martins Ferry, Ohio.
- This transaction solidifies Ohio Valley’s position in its markets and provides the liquidity needed to pursue strategic actions and advances in the health delivery system.
Significance of Transaction
- The credit facility included a $35,000,000 term loan, offering the necessary capital to refinance existing debt and provide monies for capital expenditures.
- The financing also included a $15,000,000 revolving line of credit to finance working capital expenses.
Opus Bank's Role
- Opus Bank’s Healthcare Provider Group served as sole lead arranger, sole bookrunner, administrative agent, and partnered with Triumph Healthcare Finance and an East Coast regional bank to provide the $50,000,000 senior secured credit facility.