TD funds one of Maryland's largest, single-specialty Allergy, Asthma and clinical immunology practices
TD Bank, America's Most Convenient Bank®, announced today that its Healthcare Practice Solutions Group (HPSG) closed a $4.3 million term loan and line of credit for a growing healthcare business, crucial to the communities and residents it serves.
The loan will aid organic expansion for Asthma & Allergy Centers, LLC, owned by Prasad M. Nataraj, M.D., to support practice refinancing and the acquisition of two additional practice locations in Columbia and Frederick, Maryland. This is one of several healthcare multi-location group practice deals that TD has funded through its HPSG.
"We were particularly excited to work with Dr. Nataraj due to his genuine passion for caring for patients, as well as his willingness to immediately prioritize responding to patient needs to ensure they constantly feel cared for," said Dan Croft, Head of Healthcare Practice Solutions Group, TD Bank. "Our locally-based team was glad to have the opportunity to leverage our healthcare and market expertise to support the client's group practice model expansion plans to continue to add locations, ranging from Maryland to Florida."
Established in 1995, The Allergy & Asthma Center is one of the largest, single Allergy, Asthma and immunology practices in Maryland. Dr. Nataraj owns 17 total practices with other locations in Virginia, Florida and Washington, D.C. The Centers' teams of healthcare professionals serve adults and children of all ages, and the practice is guided by its emphasis on patient-centered, compassionate medical care, patient education and empowerment, and modern, innovative medicine.
"I was extremely happy with how smooth and professional my experience was with TD Bank and the local Healthcare Practice Solutions Group," said Dr. Nataraj. "In addition, there was a personal side to this transaction due to the relationship that previously existed with the team. This process was a pleasant transaction and we look forward to the newly established relationship with TD Bank. We also look forward to doing future business together as TD offers continued support of our growth and expansion."
In addition to receiving financing through TD Bank, the practice transferred its full banking relationship to TD Bank, including deposits, treasury management and merchant solutions.
TD's HPSG underwrites loans of up to $20 million for practices with revenues up to $30 million throughout TD's Maine to Florida footprint with a special focus on medical practices, dentistry, veterinary and eye care. The team's specialties include equipment loans, practice mergers/acquisitions, partnership buy-ins or buy-outs, expansions/relocations, commercial real estate loans and refinancing. The deal was closed by Chris Mills, Commercial Senior Relationship Manager, and Reza Anwar, Healthcare Specialist.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com/us.
Media Contact:
Shari Rosen, APR
TD Bank Corporate Communications Manager I – Small Business/Commercial
856-372-3848
Shari.Rosen@td.com
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