CapX Partners has provided $10 million in equipment financing for Walnut Hill Physicians’ Hospital. The hospital is a 100-bed acute care start-up being developed in Dallas, TX.
Walnut Hill Physician’s Hospital, LLC is a 100-bed acute care start-up hospital being developed in Dallas, TX. The hospital project is a strategic partnership between local physicians, Medistar Corporation, and Surgical Development Partners.
Physician’s Hospital had already secured real estate and equipment financing to provide turnkey capital for the development of the hospital. After several participating equipment lenders were unable to extend additional financing for a unique list of equipment assets, Physicians’ Hospital’s equity sponsor, Surgical Development Partners, approached CapX to provide equipment financing.
“CapX moved quickly, understanding our financing needs and providing us with thoughtful solutions, allowing us to keep our focus on the myriad of other issues we had to tackle for an on-time hospital launch.” Said Eddie Alexander, President and CEO, Surgical Development Partners.
CapX was able to recognize the equity sponsor’s ability to identify geographical areas with high healthcare demand and their skill to execute on both project development and operations. CapX provided a $10,000,000 equipment lease facility to help Physician’s Hospital acquire new equipment to open its eleventh healthcare facility. “Closing a transaction that involves multiple lenders and dozens of vendors is always a challenge” stated Eric Starr, Partner, CapX Partners.
Physicians’ Hospital will have 82 physicians with multiple specialties invested in the project and will be heavily focused on cardiology.
Founded in 1999, CapX Partners is a specialty finance company that focuses on private equity and venture backed portfolio companies looking for debt financing in the $2-$20 million range. CapX favors manufacturing, distribution, technology, energy and healthcare industries with an emphasis on revenue producing fixed assets. For more information on CapX, visit www.capxpartners.com or contact Barrett Carlson at 312.893.7410.