First Citizens Bank Provides $24MM for Acquisition of PAM Rehabilitation Hospital - News | ABL Advisor
Summary
First Citizens Banks Healthcare Finance business provided $24 million to finance the acquisition of a post-acute medical rehabilitation hospital in Tulsa, Oklahoma. The Sanders Trust acquired the PAM Rehabilitation Hospital of Tulsa, a 53-bed, freestanding inpatient rehabilitation facility totaling 60,932 square feet.The hospital is leased to and operated by PAM Health. "We are pleased with First Citizens Healthcare Finance groups ability to arrange a solid financial package as we continue to grow our business," said Rance Sanders, President and CEO. ""We appreciate the opportunity to again work with The Sanders Trust as we continue to expand our banking relationship," said Steve Reedy, a managing director and head of medical office banking in Healthcare Finance. "PAM Rehabilitation Hospital of Tulsa provides valuable post-acute healthcare services to this growing community," said William Douglass, group head for Healthcare Finance.