GE Commercial Finance Healthcare Financial Services Delivers $40 Million Loan to UHS-Pruitt Corporation
Posted on: Tuesday, 11 October 2005, 15:00 CDT
GE Commercial Finance Healthcare Financial Services has provided UHS-Pruitt Corporation (UHS) - a provider of long-term care and ancillary services with over 50 locations throughout the Southeast - with a $40 million line of credit.
The loan will enable UHS to consolidate eight skilled nursing facilities located in Georgia and North Carolina under one lender; previously these facilities had financing agreements with multiple lenders. Additionally, the loan will enable UHS greater flexibility to move properties in and out of the line of credit.
"We have worked with GE for many years and this flexible structure coupled with a 7-year term was a perfect fit for our short-and long-term objectives," said Neil Pruitt, Jr., UHS Chairman and CEO.
About GE Commercial Finance Healthcare Financial Services
GE Commercial Finance Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $13 billion of capital committed to the healthcare industry, GE Commercial Finance Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Commercial Finance Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
About UHS-Pruitt Corporation
UHS-Pruitt Corporation, headquartered in Toccoa, Ga., began with its first healthcare center in 1969, and has grown to become one of the largest providers of long-term care and ancillary services in the Southeast. There are over 80 locations that include skilled nursing healthcare centers, hospice, and home health agencies. Other organizations affiliated with UHS-Pruitt include United Pharmacy, United Medical, UniHealth, and United Clinical Services. UHS-Pruitt Corporation family of providers are found in Georgia, North Carolina, and South Carolina. For further information please go to www.UnihealthSolutions.com.
Source: Business Wire
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