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BACKGROUND

When we started HFA Partners a few years ago, we set out to be different. Services would be delivered by senior professionals, clients would receive practical, hands-on advice, we would explain what we do every step of the way, and we would build long-term relationships one project at a time. Today, these principles have become the core of our value proposition.

The HFA team includes investment bankers, hospital chief financial officers, and healthcare financial analysts with years of hands-on experience in the healthcare debt markets. 
HFMA: Advice to Healthcare CFO's on New SEC MA Rule

HFMA: Advice to Healthcare CFO's on New SEC MA Rule

Now that the SEC Municipal Advisor rule limits the advice that not-for-profit hospitals can get from broker-dealers, financial leaders should determine how to best maintain communications by reviewing their information…
Most Hospitals Unprepared for New SEC MA Rule

Most Hospitals Unprepared for New SEC MA Rule

With just one week left before the SEC MA Rule kicks in, most not-for-profit hospitals remain blissfully unaware of how the rule will affect communications with their bond underwriters. Hospitals…
SEC Asks Hospitals to Confess to Disclosure Violations

SEC Asks Hospitals to Confess to Disclosure Violations

The SEC is offering municipal issuers, obligors and their underwriters reduced penalties in exchange for self-reporting continuing disclosure violations. Hospitals who sold bonds in the last 5 years should determine…
Healthcare Bond Issuance Dwindles in First Quarter

Healthcare Bond Issuance Dwindles in First Quarter

Even with rates below historical averages, hospitals aren’t borrowing like they used to --first quarter 2014 healthcare bond issuance is down 50% from last year. Hospitals seem to be doing…
S&P Clamps Down on Spotty Bank Placement Disclosure

S&P Clamps Down on Spotty Bank Placement Disclosure

Standard & Poor recently published Q&A's on how the rating agency views public finance alternative financings such as bank placements. Placements can have a significant impact on a borrower's overall…

WHAT WE DO


HFA Partners helps not-for-profit healthcare borrowers lower the cost of debt and minimize balance sheet risk. As Independent Registered Municipal Advisor, we help plan and execute tax-exempt and taxable debt financings and assist with all areas of the debt structure including bonded and bank debt, swaps, ratings, and bondholder relations.

FINANCINGS

OF INTEREST

Read how the new SEC Municipal Advisor rule will affect hospitals starting July 1.

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Pierre Bogacz, MBA

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Office: (813) 347-9150 ext 220


A managing director and co-founder of HFA Partners, Pierre has over twenty years of experience in healthcare corporate and municipal finance. He has worked with providers throughout the US in structuring tax-exempt and taxable fixed and variable rate bonds, credit enhancement, interest rate swaps, and alternative financings including private equity. Pierre has advised tax-exempt hospitals, health systems, and large physician group practices in strategic planning and in M&A transactions including affiliations, joint ventures, asset sales and full mergers. He has significant experience in the valuation of hospitals and physician groups.

Before HFA Partners, Pierre was a director with Ziegler Capital Markets, a national healthcare investment banking firm where he covered the southeastern United States for its hospital finance group. He was previously with Deloitte & Touche in their national healthcare finance consulting group. In addition, Pierre spent several years in the healthcare divisions of investment banks  Alex. Brown & Sons in Houston and CS First Boston in New York. He started his healthcare finance career with Citibank in Dallas.

Pierre has an MBA in Finance from The University of Texas and a dual BA in Economics and Political Science from Southern Methodist University in Dallas. He is a frequent guest speaker at Healthcare Financial Management Association and MGMA conferences and has been published in HFMA Magazine, HFMA Strategic Financial Planning newsletter, Modern Healthcare, The Bond Buyer, and other leading healthcare finance publications.

Chris Rea, CFA, MBA

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Office: (813) 347-9150 ext 221


A managing director and co-founder of HFA Partners, Chris has more than fifteen years of securities valuation and financial management experience, most recently as analyst for a regional asset management firm, where he handled over one hundred private and institutional client relationships. 

Chris´ prior experience includes Deloitte & Touche´s valuation consulting group and a regional consulting firm where he handled public and private securities valuation analysis for merger & acquisition, estate planning, ESOP, and other purposes.

Chris spent several years with an investment banking firm where he developed financial analysis models for mergers and acquisitions, recapitalizations and leveraged buyouts.

Chris is a Chartered Financial Analyst charterholder, a member of the CFA Institute, and is on the Board of the CFA Society of Jacksonville. He holds an MBA from the University of Warwick, and a Master in Business and Management research from University of Redding where he is currently pursuing a Doctorate in Business Adminstration.

Mike Rolph, CPA, MBA

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Office: (813) 347-9150 ext 222


A managing director, Michael has over thirty years of experience in healthcare strategic financial management, asset management, and corporate finance. He has worked with several high-profile integrated healthcare systems and has significant expertise in strategic financial planning, mergers, acquisitions and divestitures, and a wide range of taxable and tax-exempt debt structures and related financial products.

Michael was previously senior vice president, CFO of Sarasota Memorial Healthcare System, FirstHealth of the Carolinas, Bon Secours Healthcare System, Southeast Region, Venice Regional Healthcare System, Emerald Health, and held finance positions with Summa Care and Akron General Medical Center. Michael’s consulting clients include Trinity Health System, Catholic Health East, and Baptist South Florida. He began his accounting and finance career with Arthur Andersen.

Michael has an MBA in Finance from The University of Akron, a Bachelor of Science in Accounting from the University of Akron where he was President of Beta Gamma Sigma, and has completed the course requirements for a DBA in Accounting and Finance at Kent State University. He has written cases and articles in healthcare strategic financial planning for Health Professions Press, International Journal of Case Studies and Research, North American Case Research Association, and American Journal of Case Research. Michael is a Certified Public Accountant and a Series 66 licensee.

Wendi LeBrocq, MBA

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Office: (813) 347-9150 ext 225


A senior vice president, Wendi has over ten years of credit risk and healthcare financial analysis experience, including running complex financing models, budgets and forecasts. She is in charge of the firm´s pricing repository and associated market analytics.

Before HFA Partners, Wendi was a senior financial analyst with a large Florida integrated healthcare system and with Dynegy, where she handled a variety of advanced analytical projects. She has significant experience with Hyperion, Business Objects, and Oracle applications.

Wendi received her MBA from the University of Houston and B.S. from Texas Tech University.

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