Health & Life Sciences

Quarles & Brady has been involved in virtually every role typically associated with a finance transaction, including bond counsel, underwriter’s counsel, financial institution counsel, trustee counsel and corporation counsel for a wide variety of organization types. We have served as counsel for small standalone hospitals to multi-state integrated healthcare systems. Our experience representing health care lenders and underwriters as well as borrowers gives us a unique perspective in counseling our clients. We are experienced in both tax-exempt and taxable financings and all types of structures for access to capital.

Our attorneys have experience representing and counseling on all aspects of health care and life sciences finance. We understand the needs of the industry and possess the skills and knowledge to assist clients on a wide variety of transactions.

Quarles & Brady attorneys have experience representing all the parties to a variety of types of financings, including:

• Taxable loans and lines of credit.
  
  
• Liquidity and credit support for bond transactions.
  
  
• Off balance sheet financing structures, such as sale/leaseback transactions.
  
  
• Secured and unsecured loans for various types of medical facilities.
  
  
• Accounts receivable and other asset securitization transactions.
  
  
• Swaps and other derivative product transactions.

We also counsel clients on a variety of legal issues typically associated with finance transactions, including:

• Preparation and revisions to master trust indenture structures with focus on flexibility for the client’s future needs.
  
  
• Advise on existing debt restrictions and financial covenant compliance.
  
  
• Counseling clients on the expenditure and allocation of tax-exempt bond proceeds, and maximizing flexibility for use of bond-financed facilities.
  
  
• Restructuring of debt relating to acquisitions or other similar reorganizations.

As you can see, our counseling does not end when the transaction ends. Disclosure and tax law compliance are areas of increased scrutiny where our experience can truly add value.

Bond Financings

Each day health care leaders face a dizzying array of issues, particularly as they look for ways to fund capital projects and technology purchases. From arranging funding for the latest medical imaging equipment, to tax exempt bond financing for a new hospital, Quarles & Brady has the depth and expertise to help health care and life sciences organizations meet their short- and long-term business objectives.

Depth of Knowledge

Quarles & Brady counsel opinions enjoy universal acceptance as assurance that a funding is lawfully authorized and issued and meets all requirements for tax-exempt status. We annually provide opinions on approximately $1 billion of obligations, including some $250 million to $300 million in health care financings. That kind of volume makes us one of the largest practices in the country — larger by far than any other firm in Wisconsin. It also allows us to provide cost-efficient representation of the highest quality.

In addition, we go beyond issuing opinion letters. We work with our clients to help negotiate and structure a financing arrangement that best suits their business needs now and in the future. We have served as borrowers counsel, creditors counsel and underwriters counsel in a variety of financing transactions.

We also are deeply involved at state and national levels in formulating bond industry standards, writing laws affecting state and local financing and serving in industry groups. We also have been involved in many significant court tests in this area of law. This keeps us at the forefront in spotting new trends, developments and techniques, and providing the best resources for getting the job done.

For more information on how our Health Care: Financiers Team can assist you, please contact Elizabeth Orelup at  / (414) 277-5159 or your local Quarles & Brady attorney.