US HealthVest (USHV), a developer and operator of behavioral health facilities, received a $55m senior secured term loan from Silicon Valley Bank.
The financing includes a $30m first lien revolving line and term loan from SVB and a $25m second lien term loan from a third party.
The financing will support the refinancing of existing debt and growth capital for facility expansion.
Bringing psychiatric and substance abuse care to underserved communities, USHV hospitals develop an array of specialized programs in response to community need and partner with existing medical providers to expand services and improve access to care.
Founded in 2013 by Dr. Richard Kresch, formerly Founder and CEO of Ascend Health Corporation and Heartland Health Developments, US HealthVest is an innovative provider of behavioral healthcare services. US HealthVest operates Chicago Behavioral Hospital, Lake Behavioral Hospital, Silver Oaks Behavioral Hospital, Smokey Point Behavioral Hospital, Ridgeview Institute-Smyrna, Ridgeview Institute – Monroe and is developing additional psychiatric hospitals across the country. Accredited by The Joint Commission, the hospitals provide specialized psychiatric care to patients with a full range of inpatient and outpatient services for adolescents, adults and senior adults.