InnovatiVe Capital

Financing HOSPITALS. Dedicated to CLIENTS. Committed to COMMUNITIES
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Clients
 
Innovative Capital

 

  Alan Richman
Alan Richman | President & CEO
610-543-2490 x 101

Mr. Richman is the founder of InnoVative Capital and serves as its President and CEO. Over the course of a distinguished career, he has accumulated 30-plus years of experience in the fields of hospital finance, public finance and real estate banking, while working with hospitals and healthcare providers in over 40 states.

During InnoVative Capital’s 13-year operating history, Mr. Richman has led its growth in the financing of rural and community healthcare projects throughout the United States. In doing so, he has built InnoVative Capital into a nationally recognized leader in the design, development and execution of complex financings for credit-challenged hospitals and senior living providers. Having envisioned the federal government as an active partner in its healthcare banking practice, Mr. Richman sought and received HUD and USDA approval of InnoVative Capital’s mortgage bank. Past clients have funded their project and cash flow needs through issuance of revenue and general obligation tax-exempt bonds; FHA Section 242 mortgage insured loans and bonds; commercial loans; USDA loans; variable rate demand notes secured by domestic and international bank letters of credit and government loan pools.

Through past employment, Mr. Richman has developed expertise in all areas of municipal finance including, hospitals, senior living, multi-family housing, electric utilities, toll-roads, resource recovery projects, and tax-backed obligations. Mr. Richman was the Head Municipal Bond Research at the Vanguard Group, where he directed the credit risk for a multi-billion dollar municipal bond portfolio, and served as a Vice President and Senior Hospital Analyst at T. Rowe Price Associates.

In the late 1980s, Mr. Richman co-established Credit Local de France, New York, as its Senior Vice President and Director of Public Finance and was a Vice President of investment banking at Donaldson, Lufkin & Jenrette. Mr. Richman began his career as a municipal bond analyst at Shearson American Express where he was responsible for the municipal electric utility sector.

Mr. Richman is an important contributor to the healthcare industry, authoring numerous articles and interviews pertaining to capital financing for hospitals and senior living facilities. He is a past lecturer for the hospital and municipal bond industries, as well as universities, including, the Harvard School of Public Health. Mr. Richman maintains memberships in the Mortgage Bankers Association of America, the National Federation of Municipal Analysts, Municipal Analysts Group of New York, the National Rural Health Association, HFMA, ACHE, ASHE, and the American Hospital Association. He holds an M.B.A. with a public finance specialty and a B.S. in economics from the State University of New York at Albany.

     
     

 

 

 
OTHERS PROMISE. WE DELIVER.
$40,500,000
  FHA 223 a-7 Insured Ginnie Mae Loan
  FHA 242 Debt Refinancing
  Morehead Memorial Hospital
  Eden, NC
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
 
  Joint Management & Lease Agreement
  Community Hospital Affiliation
  Emanuel Medical Center
  Swainsboro, GA
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$85,000,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Community Hospital
  Meadows Regional Medical Center
  Vidalia, GA
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$40,000,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Critical Access Hospital
  The Memorial Hospital
  Craig, CO
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$46,000,000
  FHA 242 Mortgage Insured
Tax-Exempt Bonds
  Replacement District Hospital
  Matagorda Regional Medical Center
  Bay City, TX
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$18,500,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Critical Access Hospital
  Shoshone Medical Center
  Kellogg, ID
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$6,500,000
  FHA 241 Insured Ginnie Mae Loan
  Skilled Nursing Facility Renovation
  Shorefront Geriatric Center
  Brooklyn, NY
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$29,000,000
  FHA 242 Insured Ginnie Mae Loan
  Replacement Critical Access Hospital
  North Valley Hospital
  Whitefish, MT
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$31,000,000
  FHA 242 Mortgage Insured
Ginnie Mae RZED Bonds
  Critical Access Hospital Modernization Project
  Effingham County Hospital Authority
  Springfield, GA
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$24,000,000
  Hospital Revenue Bonds
  Community Hospital
Renovation and Expansion
  Ohio Valley General Hospital
  McKees Rocks, PA
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$3,500,000
  FHA 232 Mortgage Insured
Tax-Exempt Bonds & Sub Debt
  New Assisted Living Facility
  Somerset at University Place
  Winston-Salem, NC
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$50,000,000
  Hospital Revenue Bonds
  Tertiary Care Facility
Renovation and Expansion
  Memorial Health University Medical Center
  Savannah, GA
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$6,860,000
  FHA 232 Insured Ginnie Mae Loan
  Skilled Nursing Home
Renovation and Refinancing
  Citrus Health and Rehabilitation Center
  Inverness, FL
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$19,200,000
  Hospital Revenue Bonds
  Community Hospital
Refinancing and Expansion
  Daviess County Hospital
  Washington, IN
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$33,000,000
  FHA 242 Insured Ginnie Mae Loan
  Start-Up For-Profit Hospital
  Summit Hospital
  Phenix City, AL
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
$37,000,000
  FHA 242 Insured Ginnie Mae Loan
  Community Hospital
Debt Refinancing & Expansion
  Knox Community Hospital
  Mt. Vernon, OH
  InnoVative Capital's Role:
  FHA Mortgage Banker and Financial Advisor
  [ case study ]
$20,000,000
  USDA Direct Loan
  Community Hospital Renovation
  DeSoto Memorial Hospital
  Arcadia, FL
  InnoVative Capital's Role:
  Financial Consultant
  [ case study ]
$59,000,000
  Doctorsí Hospital
Non-Rated Hospital Revenue Bonds
  Start-Up Non-Profit Hospital
  Doctorsí Hospital
  Bridgeport, TX
  InnoVative Capital's Role:
  Financial Advisor
  [ case study ]
$7,675,000
  FHA 232 Insured Ginnie Mae Loan
  Start-Up Skilled Nursing Facility
  Stone Oak Care Center
  San Antonio, TX
  InnoVative Capital's Role:
  FHA Mortgage Banker
  [ case study ]
VIEW SAMPLE OF RECENT FINANCINGS
 
The Tax Support of Independent Community Hospitals
by Alan P. Richman
Healthcare Financial
Management Magazine
 
Increasingly, community hospitals are under pressure to survive. Independence and prosperity are not mutually exclusive for many community hospitals, as long as they receive a little revenue support for new facilities and additional physicians. Dedicated limited taxes can provide the lifeline hospitals need to preserve community healthcare and enhance the local economy.

READ FULL ARTICLE      

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COMMUNITY INVOLVEMENT
HUD/FHA Approved Lender National Rural Health Association
Healthcare Financial Management Association Texas Organization of Rural Community Hospitals
National Rural Health Association Supporter of World Hunger Year
Hometown Health Georgia Hospital Association
National Association of Development Organizations National Federation of Municipal Analysts (NFMA)
Planetree Sponsor  
 
HUD-Licensed FHA Mortgage Lender and SEC/MSRB Registered Municipal Advisor
Invested in rural communities and hospitals
FHA Mortgage Banking | FHA Section 242 Mortgage Insurance Program | FHA 242 Loans | Rural Hospital Finance | Critical Access Hospital Finance
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InnoVative Capital is a HUD licensed FHA mortgage lender and SEC/MSRB-registered municipal advisor, specializing in the mortgage financing of rural hospitals, community hospitals and critical access hospitals using the FHA 242 Mortgage Insurance Program, tax-exempt and taxable bonds, bank debt, USDA Loans, and equity strategies. InnoVative Capital provides cost-effective and expedient access to the capital markets for hospitals, senior living, nonprofits and municipalities, as well as mergers and acquisitions representation and turnaround support.

InnoVative Capital 1489 Baltimore Pike, Building 400 | Springfield, Pennsylvania 19064 | Phone: 610-543-2490 | Fax: 610-543-2491

Copyright InnoVative Capital, LLC
 
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