NEW
YORK, July 17, 2024 /PRNewswire/ -- First
Citizens Bank today announced that its Healthcare
Finance business provided $24
million to finance the acquisition of a post-acute medical
rehabilitation hospital in Tulsa,
Oklahoma.
The Sanders Trust acquired the PAM Rehabilitation Hospital of
Tulsa, a 53-bed, freestanding
inpatient rehabilitation facility totaling 60,932 square feet.
The hospital is leased to and operated by PAM Health. Founded in
2006, PAM Health is currently the third largest operator of
long-term acute care hospitals and inpatient rehabilitation
facilities in the U.S. with 63 facilities across 17 states.
"We are pleased with First Citizens Healthcare Finance group's
ability to arrange a solid financial package as we continue to grow
our business," said Rance Sanders, President and CEO. "We highly
value our First Citizens banking relationship and appreciate their
efficient process and deep healthcare banking experience."
"We appreciate the opportunity to again work with The Sanders
Trust as we continue to expand our banking relationship," said
Steve Reedy, a managing director and
head of medical office banking in Healthcare Finance.
"PAM Rehabilitation Hospital of Tulsa provides valuable post-acute healthcare
services to this growing community," said William Douglass, group head for Healthcare
Finance.
First Citizens Healthcare Finance provides comprehensive
financing and banking solutions to middle market healthcare
companies across the U.S. Using a client-focused and
industry-centric model, Healthcare Finance tailors its products and
services to help clients meet their needs for growth capital.
About First Citizens Bank
First Citizens Bank helps
personal, business, commercial and wealth clients build financial
strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a
unique legacy of strength, stability and long-term thinking that
has spanned generations. First Citizens offers an array of general
banking services including a network of more than 500 branches and
offices in 30 states; commercial banking expertise delivering
best-in-class lending, leasing and other financial services coast
to coast; innovation banking serving businesses at every stage; and
a nationwide direct bank. Parent company First Citizens BancShares,
Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with
more than $200 billion in assets and
a member of the Fortune 500™. Discover more at
firstcitizens.com.
MEDIA RELATIONS:
Ella
Bristow
(212) 461-5322
Ella.Bristow@firstcitizens.com
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SOURCE First Citizens Bank