Daily News: October 10, 2014

Citizens Commercial Banking Boosts Healthcare Finance Team

Citizens Commercial Banking, the commercial banking division of Citizens Financial Group, announced that it has expanded its healthcare finance team with the addition of Ross Eldridge and Tom Case.

Based in Atlanta, the two new hires will focus on originating senior debt financings to middle-market private equity sponsors and companies across a variety of sectors in the healthcare industry.

Eldridge joins Citizens as a director from GE Capital Healthcare Financial Services, where he was responsible for originating and structuring debt financings for healthcare clients. Eldridge has more than 10 years of healthcare finance experience.

Case joins Citizens as a vice president from CIT Healthcare, where he focused primarily on underwriting leveraged buyout transactions with private equity sponsors.

Both executives will report to Russ Herakovich, who leads Citizens’ Healthcare Finance team.

Eldridge and Case both will focus on middle-market cash flow financings in the $60 million to $1 billion range. A typical middle market company in the target range will have EBITDA of $15 million to $300+ million.

“Ross and Tom are great additions to our strong and growing healthcare finance team,” said Steve Woods, executive vice president and head of Corporate Banking. “We are delighted to have them join the team as we deliver financing and other commercial financial services to healthcare companies across the country.”

Formerly known as RBS Citizens, Citizens Commercial Banking is the commercial banking division of Providence, RI-based Citizens Financial Group.