Specialty investment bank Ziegler announced on Dec. 12 that it successfully closed a $7 million fixed-rate tax-exempt bond issue for Total Longterm Care, Inc.
TLC was formed in December 1989 to establish Colorado’s first Program of All-inclusive Care for the Elderly (PACE), and it began its PACE operations in Denver.
Since then, it’s grown from one initial location to 1,800 participants across five centers that serve the entire Denver metro area, and now a new PACE location will be in San Bernardino, Ca., where land and existing buildings were just purchased.
“Total Longterm Care’s leadership has proven highly adept at managing the service-intensive, capitated PACE business,” said Mary Munoz, managing director in Ziegler’s Senior Living practice, in a statement. “We view PACE as a prototype for true person-centric care, a foundation for effective healthcare delivery.”
Written by Alyssa Gerace