Northwest Kidney Centers
Application Acceptance: April 6, 2018. Please note all information provided below is as of the date of the application submission with the exception of Loan Size & Closing Date.
Obligor: Northwest Kidney Centers (NWKC) is a Washington not-for-profit corporation providing outpatient dialysis services at 15 facilities located within King County, and one facility located in Clallam County, supporting a total of 302 licensed stations and a home dialysis program for eligible patients. In addition, NWKC provides inpatient dialysis services at 9 hospitals. NWKC services are supported by a staff of 640 FTE, and an active medical staff comprised of 54 physicians.
Loan Size: $43,175,000 (Not-to-Exceed)
Description of Loan: Proceeds of the loan will be used for (1) reimbursement of the acquisition costs associated with NWKC SeaTac/Burien Campus and City of Seattle/Rainier Beach Clinic; and (2) fund construction costs of two new facilities.
Interest Cost Savings: NWKC estimates that it will save approximately $5,248,657 over the life of the loan based on current estimated taxable interest rates versus tax-exempt interest rates. This avoided interest expense will favorably impact the future pricing for NWKC patient services, to the benefit of NWKC patients and the community.
Purchaser: US Bank
Closing Date: June 21, 2018