U.S. Bank Healthcare Leads $170 Million for Molina Healthcare
U.S. Bank announced that its Healthcare Division closed on a $170 million senior credit facility for Long Beach, CA-based Molina Healthcare. The bank served as sole lead arranger, sole bookrunner and administrative agent on the transaction.
“We are pleased to continue our long term relationship with Molina Healthcare and structure a new program unique to their specific requirements,” said Robert Joyce, senior vice president and division head, U.S. Bank Healthcare. “We consulted closely with them on both their immediate needs and longer term strategy to enable their continued success.”
Molina Healthcare Inc. provides quality and cost-effective Medicaid-related solutions to meet the health care needs of low-income families and individuals and to assist state agencies in their administration of the Medicaid program.
“We chose U.S. Bank to lead our credit facility as a result of our excellent relationship and the specialized knowledge they brought to our organization,” said John Molina, chief financial officer for Molina Healthcare, Inc. “U.S. Bank’s consistent performance and solid reputation offer us the stability we need to continue our growth.”
The U.S. Bank Healthcare Division serves large healthcare institutions by leveraging its expertise and understanding of the unique dynamics of the industry to deliver flexible and creative credit, capital markets, treasury management, payments and trust and custody solutions in a relationship-based, consultative manner.