Bond Financing & Tax Incremental Financing
Like any businesses looking to grow, health care facilities of various types require, at times, assistance with commercial real estate and public debt financing.
Over the past 30 years, our firm has represented every major commercial bank in Kentucky and Tennessee, many Georgia-based and regional banks, and a number of insurance companies. Our attorneys have handled financing transactions ranging from small-ticket lease programs and small business loans to sophisticated, complex structured-financing transactions like syndicated credit facilities, synthetic lease transactions, securitizations, tax-exempt bond financing, tax increment financing, tax credit financing and other creative financing arrangements.
Our experience also includes:
- Leveraged equipment financing
- Vendor financing programs
- Project financing
- Conduit lending
- Mortgage warehouse lending
- Leveraged acquisition lending
- Leveraged employee stock ownership plan loans
- A variety of asset-based loan transactions with collateral ranging from traditional accounts receivable and inventory to more specialized property like hospital and nursing home assets, health care complexes, and medical centers.
Mergers, Acquisitions, Joint Ventures and other Affiliations
We provide a full range of merger and acquisition (M&A) services to our health care clients. Whether a health care business is acquiring or being acquired by another business, our attorneys help determine the most beneficial structure for the M&A transaction from a corporate, financing, tax, liability, antitrust, regulatory and (in the case of a closely held business) estate planning perspective.
Our experience in negotiating and documenting M&A transactions is extensive. In addition, the broad range of experience within our firm allows us to assist and expedite virtually any regulatory aspects of the M&A transaction itself or the businesses involved – including, for example, obtaining the necessary health care licenses, permits and registrations.
The attorneys of Stites & Harbison assist both for-profit and not-for-profit health care clients with tax planning and litigation on the federal, state and local levels. Our tax practitioners include a former United States Tax Court law clerk and a former attorney for the Internal Revenue Service's Office of Chief Counsel (Tax Court).
Other services include:
- Helping clients structure corporate reorganizations, redemption transactions, spinoffs, splitoffs, liquidations, and tax free exchanges. We also represent clients before the Internal Revenue Service Appeals Office, the United States Tax Court, the U.S. District Courts, and federal appellate courts on federal income tax matters.
- Representing a number of large multistate, multinational corporations in complex State and Local Tax ("SALT") matters, and successfully representing many other businesses and individuals as well.
- Appearing before the Kentucky Department of Revenue, Board of Tax Appeals, and all levels of the courts regarding state income and license taxes, sales and use taxes, and property taxes.
- Several members of our tax practice group have Master-of-Law degrees in taxation.
In a spectacular fall from grace, after a four-month trial in San Jose, California, Elizabeth Holmes was convicted early this year on federal criminal charges of defrauding investors in connection with her failed blood testing business, Theranos. Brian Cromer takes at look at the case for Louisville Business First.
LOUISVILLE, Ky.—The American Bar Association (ABA) Health Law Section has ranked Stites & Harbison, PLLC in 5th place in its Ninth Annual Regional Top 10 Law Firm Recognition List for the South for 2020-21.
In December 2020, Congress signed into law the No Surprises Act (NSA) addressing surprise medical billing. Specifically, the NSA prohibits out-of-network health care providers and facilities from balance billing certain commercially insured patients in certain circumstances.
The federal No Surprises Act (the “NSA”) requires all healthcare service providers to provide accurate and reliable cost estimates (Good Faith Estimates) to patients paying cash for services. The NSA’s Good Faith Estimate requirement has not received the media or industry press enjoyed by the balance billing prohibitions applicable to out-of-network (“OON”) emergency services providers, OON ancillary service providers at in-network facilities, and OON air ambulance providers, but may actually be the biggest surprise in the NSA.
Stites & Harbison, PLLC welcomes attorney Shea Luna to the firm’s Lexington, Ky., office.
LEXINGTON, Ky.—Stites & Harbison, PLLC welcomes attorney Shea Luna to the firm’s Lexington, Ky., office. She joins the Health Care Service Group as Counsel.