Investors Bank’s Healthcare Lending Group has hired James Andrew “Andy” Phelps as senior vice president. Phelps, who will report to the Healthcare Lending’s Founder and Senior Vice President James Vincenti, will be a member of the team that is introducing a new line of innovative banking products and services for healthcare providers. Phelps will be responsible for developing, managing and growing a portfolio of loans serving the national healthcare sector.
By appointing Phelps, Investors’ Healthcare Lending Group, which is based in Newark, NJ, continues to expand the scope of its financing operations. The healthcare lenders are providing structured financing as well as asset-based and cash-flow lending in conjunction with commercial real estate to skilled nursing facilities, continuing care retirement communities, group practices and healthcare facilities nationwide. The Healthcare Lending Group plans to form alliances with companies that finance middle-market healthcare businesses, and this includes building relationships with private equity firms.
Phelps brings broad expertise in healthcare lending, which gives him insights into the support the healthcare sector needs from banks. He and the Investors Healthcare Lending Group are focused on supplying the structured banking services that the healthcare providers rely on to operate and flourish.
Vincenti, said, “We are significantly increasing the scope of our healthcare lending capabilities by delivering more financing options. We believe Andy has the capabilities, experience and relationships to help us present our broader range of financing to healthcare providers. Andy’s strategic goal will be to build new alliances with middle-market healthcare clients that include pre- and post-acute facilities, senior housing, pharmacies, and hospitals, as well as companies that supply durable medical equipment and physician practices.”
Phelps has more than 20 years of experience managing, underwriting, structuring and originating a wide variety of corporate senior debt transactions with a specific focus in healthcare. He joined Investors Bank from Webster Bank where he was a senior vice president and senior relationship manager.
In discussing his new position, Phelps said, “My mission is to create business opportunities for Investors Bank by connecting with my established network in the healthcare sector. I will also be striving to create stronger awareness of the bank’s brand in new markets and build relationships as we increase its portfolio of healthcare loans.”
Phelps began his banking career at First Union (currently Wells Fargo) in its Capital Markets Group with a multi-industry focus in roles that included underwriting, structuring and business development. In addition, he was appointed to a series of senior relationship roles in healthcare for PNC and Fifth Third Bank, with a focus on the Southeast region. At these institutions, he focused on new business development in the healthcare sector and consistently increased each bank’s portfolio of middle-market debt relationships.
Phelps will be based in Charlotte, NC and operate from Investors Bank’s commercial lending offices in Newark.
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