Franklin-based Capella Healthcare is seeking a $100 million loan for the acquisition of a South Carolina hospital.
Capella announced in October plans to purchase Carolina Pines Regional Medical Center in Hartsville, South Carolina, from Community Health Systems. The Federal Trade Commission required CHS to sell the 116-bed hospital as part of its acquisition of Health Management Associates early this year. Capella also recently announced the creation of a clinical partnership with Carolina Pines and the Medical University of South Carolina.
The hospital has a $75 million purchase price, and Capella plans to use the rest of the loan to pay down drawn amounts under its existing asset-based credit line. The loan would expire in 2021.
According to a presentation filed by the company, Carolina Pines would represent 11 percent of Capella's revenue. By comparison, the company's four Tennessee hospitals also account for 11 percent of Capella's top line.
For the full presentation, click here.
Seafood restaurant operator Captain D's continues to focus its expansion attention on the Southeast. Having recently signed franchise deals covering the Atlanta and Tallahassee markets, Chief Development Officer Michael Arrowsmith and his team are adding South Carolina to the list. Arrowsmith this week told The State that the Nashville-based chain wants to add 10 stores to that number in and around Columbia, where it now runs four stores.
Nashville-based Rogers Group Inc. has won a $44 million contract to thoroughly upgrade both directions of a 12-mile stretch of Interstate 85 in South Carolina. The road in questions connects Greenville and Spartanburg and runs right next to BMW's factory and the region's airport.
ADS Security has bulked up its operations in South Carolina through the acquisition of American Burglar and Fire, which manages 2,700 accounts. AB&F was founded 27 years ago and grows ADS' customer base by about 4 percent.
"Growing our presence and establishing a full-service ADS branch in South Carolina is exciting for ADS," said ADS President and CEO, John Cerasuolo. "We have been slowly growing in Columbia and the purchase of AB&F, a security company with an excellent local presence, is a natural next step for us in this market."
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