Heller to acquire HealthCare Financial.HealthCare Financial Partners Inc., a Chevy Chase, Maryland-based commercial finance company Finance company A company whose business and primary function is to make loans to individuals, while not receiving deposits like a bank. with $533 million in assets at March 31, and Heller Financial Inc., a Chicago-based commercial finance company with $14 billion in owned and managed assets, have reached a definitive agreement under which Heller will acquire HCF 1. (operating system) HCF - Host Command Facility.2. (architecture) HCF - Halt and Catch Fire. for $35 per share in stock and cash. The closing is anticipated to occur in July. The total purchase price will be about $483 million. When combined with Heller's existing health care finance activities, the unit will have loan commitments in excess of $900 million, over 260 client relationships, and product capabilities covering working capital, acquisition, cash flow, equipment, and real estate financing. In March, HCF announced that it had retained First Union Capital Markets to arrange a $500 million financing that would significantly restructure its overall debt facilities. According to a statement issued by HCF, the transaction was expected to lower HCF's cost of funds by about 15 percent. |
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