Daily News: February 9, 2015

Deloitte Facilitates Pinnacle Bank $75MM Investment in BHG

Deloitte Corporate Finance announced it acted as exclusive financial advisor to Bankers Healthcare Group in receiving a minority investment from Pinnacle Bank, a subsidiary of Pinnacle Financial Partners, a commercial bank serving individuals and small-to-medium-sized businesses primarily in TN. Pinnacle invested $75 million to acquire a 30% interest in BHG.

BHG is a provider of financing solutions for healthcare professionals throughout the U.S. BHG’s loan originations are sourced through a variety of distribution channels and primarily sold through an online auction process to a network of approximately 200 community banks.

“DCF was able to effectively position BHG by highlighting the company’s high-touch customer service and expertise in the healthcare lending space. We are very excited about our affiliation with Pinnacle and believe that, as a result of this partnership, we will be even better positioned to continue the growth and profitability we have enjoyed. We look forward to exploring new opportunities that are available to both firms,” said Al Crawford, chairman and CEO of BHG.

“We are pleased to have assisted BHG in finding an ideal strategic partner and look forward to continuing our relationship with the company,” said Charlie Welch, managing director, Deloitte Corporate Finance. “We believe traditional banks will continue to pursue transactions with specialty lenders that offer growth in attractive asset classes.”