SKOKIE, Ill. – March 7, 2018 – Kaufman Hall, a leading provider of strategic and financial consulting services, and enterprise performance management and decision support software, announced today that the company is ranked as the No. 1 financial advisor in the U.S. in new healthcare debt issuance for both long-term municipal public and private offerings, according to Thomson Reuters’ 2017 Municipal Market Analysis.
Increasing market pressures and impending tax reform drove an unexpected volume of financing in the fourth quarter of last year. Healthcare organizations had a significant need in 2017 to access capital in both the public and private markets, fund new money projects, reduce their cost of capital, and alter the credit structure of the enterprise. Kaufman Hall advised on the issuance of more new, long-term municipal healthcare debt than any other firm in 2017, supporting more than $10 billion in debt transactions on behalf of client hospitals and health systems.
Kaufman Hall advised on $6.81 billion in tax-exempt debt issues through 42 new healthcare long-term transactions (excluding private financings), representing a 23 percent share of activity in the public healthcare tax-exempt debt market. The firm was also the industry leader advising on $3.48 billion in private long-term municipal issues, with 35 transactions to healthcare providers representing a 24 percent share of the U.S. municipal market.
“Kaufman Hall has been our financial advisor for many years, and has been integral to our success,” said Judy Swain, Treasurer of MultiCare Health System. “In 2017, we undertook an innovative financing plan on an accelerated basis, combining acquisition financing needs with refunding opportunities, MTI modernization, and several swap restructurings in a public/private market transaction on a tax-exempt and taxable basis. None of this would have been possible without our Kaufman Hall advisory team.”
Thomson Reuters has ranked Kaufman Hall as the No. 1 healthcare financial advisor for 12 of the past 13 years. Since 2006, the company has advised on more than 1,000 long-term municipal public offerings and private transactions totaling more than $111 billion in total par value, giving Kaufman Hall more transactions experience than any other firm in the not-for-profit healthcare market.
“Healthcare organizations faced a tumultuous environment in 2017. We are thankful to the many hospitals and health systems that put their trust in Kaufman Hall to help them navigate increasingly complex markets as an integral component of their treasury strategies,” said Managing Director Eric Jordahl, who leads Kaufman Hall’s Treasury and Capital Markets practice. “The rapid change in the industry is felt broadly across healthcare enterprises and finding a suitable and effective path for external financing is paramount.”
Kaufman Hall is an independent financial advisory firm that provides services exclusively to borrowers, and not issuing authorities. This allows Kaufman Hall’s consultants to provide unbiased borrowing recommendations, and to vigorously advocate for clients’ interests throughout the financing process.
To learn more about how Kaufman Hall is assisting hospitals and health systems with financing strategies, visit www.kaufmanhall.com/fa.
About Kaufman Hall
Kaufman Hall provides management consulting and software to help organizations realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods into their strategic planning and financial management processes, and quantify the financial impact of their plans and strategic decisions to consistently achieve their goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; cost transformation; treasury and capital markets management; and mergers, acquisitions, partnerships, and joint ventures.
Kaufman Hall software includes the Axiom Healthcare Suite, providing sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting and forecasting, performance reporting, capital planning, and cost accounting deliver decision support, reporting, and analytics within an integrated software platform. Kaufman Hall’s Peak Software empowers healthcare organizations with clinical benchmarks, data, and analytics to provide a higher quality of care for optimized performance and improved patient outcomes.