CWC Closes Debt Capital Raise for Connections Health Solutions
Columbia West Capital is pleased to announce the successful close of a $10 million facility for ConnectionsAZ, Inc. for working capital and general growth expenses primarily related to the build out of behavioral health and substance abuse facilities. Going forward, the company will be known as Connections Health Solutions.
Founded in 2009, Connections Health Solutions is the leading physician-led company in Arizona that specializes in providing emergency/crisis psychiatric care services 24/7, 365 days per year. With more than 460 employees in Phoenix and Tucson, Connections Health Solutions is one of the largest providers of behavioral health services in the state. This round of financing provided by BBVA Compass Bancshares, Inc. will allow the company to expand into multiple additional locations in the Phoenix and Tucson markets and greatly extend the consulting services currently being provided to systems across the country.
As an acknowledged leading front-line provider in the current mental health and opioid crisis, Connections Health Solutions seeks to provide high quality behavioral health care that is person-centered, evidence-based and culturally sensitive and which expects recovery from mental illness and substance abuse. The CEO Chris Carson mentioned, "This financing couldn't come at a better time for us to continue to expand our business in light of the multitude of issues facing mental health today. The Columbia West Capital team did a great job of explaining the options and obtaining multiple offers for us to choose from. After much consideration, we felt that the BBVA offer met our goals and we look forward to growing our business with them."
BBVA Compass Bancshares, Inc. is a Sunbelt-based bank holding company whose principal subsidiary BBVA Compass operates 672 branches, including 75 in Arizona. BBVA ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks as the 5th largest bank in Arizona.
David Barnett and John Farr from Columbia West Capital served as the exclusive financial advisors to Connections Health Solutions during this process. David Thompson of Dickinson Wright PLLC also represented the company. Additional terms of the transaction are not being disclosed.