Photo/rendering of Providence St. Joseph Health System

Providence St. Joseph Health System

Attorneys at Hawkins played a key role in the inaugural financings following the merger of Providence Health & Services and St. Joseph Health System. The combination of the two entities created one of the largest health care systems in the United States, with health care facilities in the States of Alaska, California, Montana, New Mexico, Oregon, Texas and Washington. Hawkins worked with Providence St. Joseph as underwriter’s counsel in connection with tax-exempt fixed rate bonds, three series of tax-exempt put bonds, taxable variable rate bonds and two series of taxable fixed rate bonds, which totaled approximately $1.53 billion. Hawkins’ attorneys also worked as transaction counsel, preparing all principal documents for the offered taxable bonds ($800 million in three series). Our expertise and model documents helped facilitate the migration to common “system” documents across all offered bonds. Additionally, Hawkins analyzed and documented implementation of common continuing disclosure framework for the combined system.

Role Underwriters' Counsel
Distinction Landmark Hospital System Combination Financings
Issuer California Health Facilities Financing Authority
Issue Size $1.53 Billion