Title: Ohio Valley Health Services and Education Corporation
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.