The Seniorcare Investor • Irving Levin Associates • 268-1/2 Main Avenue • Norwalk, CT 06851
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Ins & Outs Of Health Care Acquisition Financing Merger and Acquisition Webcast Held August 7, 2014, 1:00 PM ET Instructions to access the webcast: 1 Agenda Introduction The M&A market Long-term care and specialized ventures Health-care transaction issues PLEASE NOTE: You will be given the opportunity to ask questions live during the call. If you prefer, you may fax your questions to 203-846-8300 any time before or during the call. Please address your fax to “The MERGER AND ACQUISITION WEBCAST QUESTIONS”. Or email them to [email protected]. 2 PANELISTS Leslie Levinson (Moderator), Partner, Edwards Wildman Palmer LLP Les Levinson is chair of the health-care practice group at Edwards Wildman Palmer LLP. Although he maintains an active business law practice, he concentrates on the transactional, regulatory and compliance representation of healthcare and life science clients, including home-care and hospice companies, other nonacute providers, physician practices, hospitals, information technology and medical device companies, health-care equipment providers and health-care investors, lenders, and related activities. Les has completed more than 300 M&A and financing transactions and brings a hands-on, practical-based approach to assisting clients in anticipating issues and implementing creative and cost-effective strategies and solutions. Les is an author and a CONTACT frequent speaker and commentator on health-care and business matters Les Levinson and serves on a number of outside advisory boards, including the Partner National Advisory Board of the Berman Institute on Bioethics at Johns Edwards Wildman Palmer LLP Hopkins University and the National Advisory Board of Law 360’s [email protected] Healthcare Section. Les received his BA in Economics with honors from www.edwardswildman.com the University of Wisconsin-Madison and his law degree from Case Western Reserve University School of Law. 3 Michael Gehl, Chief Investment Officer, Housing & Healthcare Finance, LLC Michael Gehl joined HHC in 2011 and currently serves as the company's Chief Investment Officer. Michael is responsible for reviewing and structuring all loan applications that HHC receives and is a member of the company's loan committee. He reviews all financial statements, HUD CONTACT submissions, and appraisals. Michael recently assisted Deutsche Bank Michael Gehl with its $940 million loan backed by 167 skilled-nursing facilities in 19 Chief Investment Officer states (with significant state concentrations in Texas, North Carolina, Housing & Healthcare Colorado, Maryland and Michigan) and comprising 20,222 licensed beds. Finance, LLC The loan was provided to a subsidiary of Rubin Schron, with proceeds [email protected] used to refinance an existing CMBS loan that was funded in 2006. hhcfinance.com Michael was previously a vice president at Credit Suisse in the company’s Fixed Income department within the Investment Banking division. He worked in the health-care real estate lending group, where his responsibilities included underwriting property cash flows, loan profitability analysis, credit committee presentations, rating agency presentations, loan documentation review, prospectus review and preparing investor road shows. Notable health-care transactions on which he worked included three of largest skilled-nursing real estate transactions in history (Manor Care, Mariner Healthcare and Beverly Enterprises). Michael is a graduate of the University of Michigan. 4 Stephen F. Graham, Managing Director of M&A Services, Lancaster Pollard As Managing Director –Mergers & Acquisitions for Lancaster Pollard, Steve Graham leads a national effort to expand the firm’s sell-side and buy-side services for seniors housing and care properties. His specialties are senior housing underwriting, valuation, management and acquisition due diligence. Prior to joining Lancaster Pollard, Steve was a vice president at Ventas/Nationwide Health Properties in Dallas, Texas – one of four national investment officers – with responsibility for investment efforts in the South and Southeast. Before joining Ventas, he held senior investment roles with Nationwide Health CONTACT Properties, Inc., GMAC ResCap and Comerica Bank. Previously, he Steve Graham gained seven years of operating experience with a private multi- Managing Director of M&A state skilled-nursing and seniors housing operator. Services Lancaster Pollard Steve earned his Bachelor of Business Administration degree from [email protected] Southern Methodist University in Dallas. He also is a graduate of lancasterpollard.com the Southwestern Graduate School of Banking at SMU, where he subsequently taught for several years. Additionally, he taught real estate finance at Texas Christian University in Fort Worth, Texas. 5 Bill Pomeranz, Managing Director, Cain Brothers Bill Pomeranz has been involved in all aspects of long-term care and CCRC facility development, from planning and zoning through financing and operations. Since joining Cain Brothers in 1998, Bill has obtained more than $2.5 billion in both tax-exempt and taxable financings for his primarily nonprofit clients. Prior to joining Cain Brothers, Bill led a turnkey development firm undertaking start-up and major expansion projects for nonprofit senior living providers and hospitals. Knowledgeable of operations, Bill has served as a turn-around advisor on a number of failed retirement communities, nurturing all of them back to fiscal health. He has particular expertise in debt restructuring for troubled nonprofit projects. Bill has also emerged as a national CONTACT leader in structuring senior living mergers and acquisitions. Bill Pomeranz Managing Director Bill works closely with a number of regional hospital systems in Cain Brothers building and financing their post-acute care delivery systems. His [email protected] hospital-linked development and financing efforts have included www.cainbrothers.com skilled-nursing facilitiess, assisted living facilities, CCRCs, PACE centers, and acute rehabilitation and long-term care hospitals. Bill grew up in Chicago and received a BA from the University of Illinois and an MA from the University of California at Berkeley. He has served on various state long-term health-reform commissions and is currently a member of Dignity Health’s Community Economic Initiatives Subcommittee. 6 Ins & Outs Of Health Care Acquisition Financing Held August 7, 2014 1:00 PM ET ****************************************** WE VALUE YOUR OPINION! Please take a look at the questions below, write down any comments you’d like to make about the webcast, and email them to [email protected] or fax it to (203)846-8300. 1. What did you find most interesting/useful about the webcast? 2. Which speaker(s) did you find particularly effective? 3. Did you have any difficulty connecting to the webcast or with the sound/clarity of the connection? 4. What other topics would you like us to explore in future webcasts? 5. Do you have any additional comments or suggestions you’d like to make regarding our webcasts? Please make a copy for each person listening at your site. Thank you. 7 .