August Healthcare Group and 980Investments received $180 million in financing for a portfolio of seven nursing homes across North Carolina and Virginia. Meanwhile, a healthcare organization operating 15 facilities across various post-acute care settings, including skilled nursing, received $10 million in financing.

$180M in financing for 7-SNF portfolio

August Healthcare Group and 980Investments received $180 million in financing for a 785-bed portfolio across seven skilled nursing facilities (SNFs) located in North Carolina and Virginia.

The funding, announced Tuesday, was provided by BHI, the U.S Branch of Israel-based Bank Hapoalim, B.M., a full-service commercial bank.

The facilities are co-owned and managed by August Healthcare Group, a boutique healthcare company founded in 2021 by Ben Cohen, which operates and manages a portfolio of 9 facilities totaling over a thousand beds across North Carolina and Virigina.

“BHI has been an exceptional partner throughout this financing, bringing a deep understanding of the skilled nursing sector and a thoughtful, collaborative approach to the transaction,” Cohen, CEO of August Healthcare Group, said in a press release shared with Skilled Nursing News. “Their expertise and support give us the ability to continue investing in our teams and our communities, strengthening the care we provide and creating an environment where every patient can receive the attention, dignity and support they deserve.”

SNFs play an essential role in the healthcare continuum, said BHI’s Senior Vice President and Head of National Healthcare, Tami Antebi.

“Supporting a transaction of this size and a portfolio of this scale reflects BHI’s ongoing investment across this key sector of the healthcare industry and our commitment to providing healthcare operators with financing solutions that enable the facilities they manage to continue focusing on the delivery of exceptional care,” Antebi said.

BHI executives also noted the demand for skilled nursing care and beds.

“BHI is committed to supporting this critical segment of the healthcare industry with the specialized expertise and flexible capital needed to expand capacity, maintain facilities and support high-quality care as demand continues to grow,” said Kevin Hung, Vice President, Relationship Manager at National Healthcare at BHI.

BHI provides commercial banking solutions to middle market clients in commercial real estate, domestic and Israeli C&I, private equity and specialty finance as well as other sectors.

Meanwhile, 980Investments is engaged in acquiring, owning and building value in SNFs and healthcare-related businesses.

$10M in financing for 15 facilities

eCapital, an AI-powered fintech company, provided a $10 million healthcare receivables financing facility to an unnamed healthcare organization operating 15 facilities across skilled nursing, rehabilitation, hospice, home health and facility management services.

The financing provides additional working capital to support strategic initiatives, expand capacity and position the company for continued growth, eCapital said in a press release.

eCapital structured a healthcare receivables financing facility tailored to the company’s revenue cycle and business objectives. The additional liquidity provides flexibility to invest in infrastructure, enhance capabilities and pursue future opportunities.

“Healthcare organizations delivering services across the continuum of care face a distinct set of funding and operational challenges,” Steven Silver, head of sales, ABL at eCapital, said. “By developing a clear understanding of the company’s care model and strategic priorities, we were able to structure a financing solution aligned with its objectives and long-term vision.”