Morgan Keegan has established itself as an active underwriter of health care financings. We have managed bond issues for both public and not-for-profit hospitals of all sizes and credit quality. We have also structured issues for continuing care retirement communities, nursing homes, and assisted living facilities. Since 2000, Morgan Keegan has managed over 130 health care issues with an aggregate par value of over $4.7 billion.
Health care financings pose a unique challenge, since constantly changing state and federal regulations must be taken into account. Morgan Keegan’s health care bankers keep abreast of regulatory and political developments that can affect the health care industry.
On rated issues, familiarity with the rating agencies and their policies and processes with respect to health care issues is crucial. Morgan Keegan has the technology to compute certain key financial ratios and compare these ratios to those the rating agencies use when evaluating a health care credit. This helps determine the financial strengths and weaknesses of the hospital and gives Morgan Keegan and the health care provider time to prepare for addressing concerns of the rating agencies. Our objective is to obtain the best possible rating since, the higher the rating, the lower the ultimate net interest cost.
Some of Morgan Keegan’s health care clients include:
- Catholic Healthcare Partners (Ohio)
- Methodist Health Systems (Tennessee)
- University of Mississippi Medical Center
- Oschner Clinic Foundation (Louisiana)
- St. Jude’s Children’s Research Hospital (Tennessee)
- Vanderbilt University Medical Center (Tennessee)
- University of Virginia Health Services
