CHICAGO, Dec. 1 /PRNewswire/ -- Bridge Healthcare Finance today reported $120 Million in committed loans under management with their latest new loan portfolio bookings totaling $30.5 Million for the company’s nine months ended November 30, 2004.
The company grew their loan portfolio equally across a diverse array of healthcare companies offering unique financial products and loan solutions across several geographic regions since the launch of the company in March 2004.
Randy Abrahams, Bridge’s CEO, said, “We are pleased with our results, which reflect our ongoing commitment to helping growth oriented health care companies that need capital beyond what bank or traditional lenders can provide become significant operators in their respective niches. Our products and philosophy have been well received in the market as a result of our customized approach and real time response rate coupled with our experienced and specialized professionals.
“Looking ahead, we believe we are well positioned to build on our unique expertise in healthcare finance and our success during the past nine months. We have a diversified mix in the loan portfolio relative to health care industry segment and loan products, strong backlog and a very positive outlook for fiscal year 2005.”
The market and business opportunities in healthcare have been growing tremendously. Health care is a huge part of the U.S. economy -- about 12% of the gross domestic product. According to the Centers for Medicare and Medicaid Services, health care expenditures could reach $3.4 trillion by 2012. As the industry grows, so does the need for capital. Bridge Healthcare Finance’s emphasis on small to mid-sized healthcare providers is in perfect sync with the growing need for focused emphasis in this arena. Chicago based Bridge Healthcare Finance will continue to be an important resource in providing specialized industry skills to the health care lending marketplace.
“Bridge understands the unique risks in healthcare and will continue to provide the industry with the specialized knowledge and expertise needed to meet the growing demand,” said Randy Abrahams.
About Bridge Healthcare Finance
Bridge Healthcare Finance offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the healthcare lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of the healthcare industry. Loan amounts start at $500,000 -- for more information visit Bridge Healthcare Finance at http://www.bridgehcf.com/ .
Bridge Healthcare Finance
CONTACT: Liane Adduci-Urevig of Bridge Healthcare Finance,+1-312-994-2451
Web site: http://www.bridgehcf.com/