Experience
Public FinancePorter, White & Company acted as financial advisor to the University of Alabama Health Services Foundation, P.C. beginning in 1986 when the firm coordinated a study of the feasibility of finnancing, constructing and operating the Kirklin Clinic, a 430,000 square foot ambulatory clinic for the internationally recognized faculty group medical practice of the Foundation.
Designed by I. M. Pei, the Kirklin Clinic consolidates into a single modern facility the outpatient practice now conducted by the Foundation in 32 locations on the campus of the University of Alabama at Birmingham Medical Center.
PW&Co was financial advisor in 1988 for the original $88,000,000 Kirklin Clinic financing, and advised the Foundation in connection with the December, 1991 refunding of the 1988 financing and the issuance of $22,000,000 in additional debt to pay for an expansion.
The firm assisted the Foundation in preparing a financing plan, including a hedging strategy in connection with the variable rate interest borne by the Foundation’s obligations, and assisted the Foundation in selecting and negotiating with an underwriter and a highly rated bank to enhance the financing through a letter of credit.
