Silicon Valley Bank led a $55 million senior secured term loan for US HealthVest (USHV), a developer and operator of behavioral health facilities. The financing included a $30 million first lien revolving line and term loan from SVB and a $25 million second lien term loan from a third party. The financing will support the refinancing of existing debt and growth capital for facility expansion.
Bringing psychiatric and substance abuse care to underserved communities, USHV hospitals develop an array of specialized programs in response to community need and partner with existing medical providers to expand services and improve access to care.
“We’re pleased to secure this additional financing from Silicon Valley Bank to support our continued expansion and bring behavioral health services to a growing number of communities,” said Richard A. Kresch, M.D., president and CEO of US HealthVest. “SVB has been a great partner and its understanding of our industry and our business was critical in crafting and delivering flexible debt facilities that can scale with our future needs.”
“We appreciate the opportunity to work with US HealthVest’s proven management team and investors to provide them with the financing solutions to grow their business,” said Joe Hammer, managing director of the Healthcare Corporate Finance Practice at Silicon Valley Bank. “Behavioral health services are of critical importance in so many communities and we’re proud to support USHV’s mission to provide high-quality, individualized care to patients.”
