Capital One Closes Term Loan for Revera Health Systems
Capital One Bank announced it provided a three-year, $19.5 million secured term loan to Revera Health Systems, a long-term care and rehab provider with multiple skilled nursing centers across the United States.
The proceeds of the term loan were primarily used to refinance existing senior debt on eight of Revera Health Systems’ skilled nursing facilities across Maryland, New Hampshire, New Jersey and Vermont. Revera Health Systems also expanded its relationship with Capital One Bank to include deposit and treasury management services.
“The Capital One Bank team devised a creative financial solution that directly addressed our needs,” said Doris Morin, director of Treasury Management, Revera Health Systems. “The team was exceptionally responsive and willing to work under tight time constraints. As we grow and strive to offer the highest-quality care to our patients, we look forward to partnering with the Capital One Bank team.”
Revera Health Systems serves a diverse group of residents and families by offering integrated therapies that address the total well-being of each individual patient. Patients receive individual care plans that include specialists from several areas to best meet the needs of the resident.
“Revera Health Systems is a leading skilled nursing facility operator with a clear commitment to utilize new technologies and provide amenities to ensure patients receive the best quality care in the industry,” said Imran Javaid, managing director, Commercial and Specialty Finance, Capital One Bank. “We are excited to build a relationship with Revera as it evolves into a market leader.”
Capital One Bank’s Healthcare team partners with clients in the healthcare and long-term care industries by providing real estate loans, enterprise term loans and revolving lines of credit to address their capital needs.