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Select Accomplishments
  • FHA mortgage banker for a skilled nursing provider. Financing completed under the HUD Lean Program using a Ginnie Mae collateralized FHA insured mortgage loan structure. Loan closed February 2009.


  • As FHA 242 mortgage banker, provided construction and permanent loan for a Colorado critical access hospital; financing its replacement facility to be relocated onto a new mixed-purpose, healthcare and higher education campus. Loan was priced and closed in the midst of the capital markets meltdown of December 2008.

  • FHA 242 mortgage banker for a Texas District hospital in the underwriting of its $46 million AAA-rated, FHA mortgage insured, tax-exempt bond financing of its replacement 58-bed facility. Obtained HUD approval of FHA 242 mortgage insurance application nine weeks after submission. The mortgage loan closed January 2008 with a loan rate to the hospital of 5.05%.


  • Financial advisor and debt restructuring advisor to a nonprofit hospital.

  • Worked with a municipally-owned critical access hospital to formulate and size a new dedicated tax levy, which was presented to voters and passed in recent election.  This tax levy is being used to supplement the hospital’s operating revenue in order to obtain HUD approval of InnoVative Capital’s application for FHA 242 mortgage insurance to finance its replacement hospital.


  • Financial advisor for hospitals whose projects employed rated and unrated tax-exempt and taxable debt in excess of $500 million.  Clients range from 25 to 550 beds.


  • Financial advisor for a Texas nonprofit hospital corporation in the development and financing of a start-up community hospital funded through the issuance of $59 million high yield tax-exempt bonds.

  • FHA 242 mortgage banker for a privately owned start-up hospital, financed with a $30 million insured mortgage loan; hospital opened August 2006.

  • FHA 242 mortgage banker "1st of its kind" CAH project financing, $18 million insured mortgage loan, 100% loan to cost; hospital opened 2005.

  • FHA 242 mortgage banker for a $30 million “necessary-provider” CAH facility relocation project. New hospital opened February 2007.

  • Served as financial consultant to a community hospital that subsequently was awarded a $20 million USDA Direct Loan; the largest ever.

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"A new hospital was a necessity and we had to seize the moment. While our hospital was profitable, InnoVative Capital advised our Board that due to the cost of our project TMH required additional revenue sources to afford our loan and meet HUD's underwriting standards. In coordination with our bankers at InnoVative Capital, a tax initiative to supplement the financial operations of TMH was undertaken. With their help, our voters approved a dedicated hospital mil tax for a term of 40-years, which forecasts additional revenue of $1.5 million per annum for TMH. The financial security provided by this tax was the key in obtaining HUD's approval of our FHA 242 mortgage insurance application."

George Rohrich
CEO
The Memorial Hospital
Craig, Colorado

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