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In 2019, two optometrists opened a healthcare facilities management (HFM) service company that specializes in the field of optometry medicine. Over the next two years, the company would quickly grow through various acquisitions, eventually supporting 28 optometry locations in Colorado, Georgia, South Carolina and North Carolina.
Because of the rapid success of the business, in 2021 a global investment firm was interested in buying the company. After reviewing the investment firm’s Letter of Intent (LOI), the HFM recognized that selling the company to this firm would not be in the best interest of their doctors.
After the decision to retain the company was made, the HFM focused on moving forward. They rebranded their business under another name and had goals to expand into new markets, with the goal of acquiring 16 additional optometry practices.
To move forward, the HFM would need to obtain financing to support the expansion and find a financial institution who was willing to see the strengths in the HFM. They also needed a bank who could creatively structure the transaction. The company’s attorney introduced the President/CEO to Firstrust Bank.
The HFM has strong experience working within the optometry vertical and extensive experience acquiring optometry practices. They have a solid business plan and the skill set to improve practice operational efficiencies.
Firstrust approved the loan to support the business expansion, refinance existing debt, acquire additional optometry practices and a capital commitment line of credit:
With unmatched healthcare lending experience and a commitment to provide each customer with personal service, consider talking to Firstrust Bank for your next Healthcare Industry transaction.
All credit, terms and conditions are subject to individual review and approval.
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