Joseph R. Marion
President, Healthcare Advisory, LLC
HUD 242 Hospital Affiliate of Cambridge Realty Capital Companies
Joe formed Healthcare Advisory in June 2008 and in March 2009 formed an affiliation with Cambridge Realty Capital Companies of Chicago, IL as the company's HUD 242 Acute Care/Hospital Specialist. The Cambridge affiliation with Healthcare Advisory provides a national origination platform to grow and expand the business. Current engagements of Healthcare Advisory range from FHA insured financings, variable rate bank letter of credit negotiations, open market bond tender offers, Certificate of Need advisory services, debt restructuring, forward delivery agreement negotiations, credit analysis, debt capacity analysis and analysis of financing options.
Prior to forming Healthcare Advisory, Joe served as Managing Director of Merrill Lynch, Pierce, Fenner & Smith, Inc. and as President of Merrill Lynch Mortgage Lending, Inc. overseeing a $1.2 billion FHA health care portfolio. Joe joined Merrill Lynch in 1980 upon receiving his MBA in finance/management information systems. While in the MBA program, Joe served as a health care consultant to Fidelity Management and Research Company (Fidelity Mutual Fund). Joe also holds an MS degree in Mathematics and a BA degree in Mathematics Education.
Joe's areas of specialty include the structuring of project financing, refinancing and advance refunding, negotiated tax-exempt revenue bonds and the preparation and implementation of applications for federal insurance. In 1981, Joe completed the first publicly offered FHA-insured /tax-exempt revenue bond issue in the nation. In 1991, Joe developed the FLOAT/RITES product and pioneered its use on behalf of his hospital client, saving his client 25 basis points on its hospital bond issue. In 2005, Joe completed the first FHA insured bond issue incorporating a forward interest rate lock. Joe has worked on over $15 billion of health care transactions.
Joe served as Vice Chairman and Chairman of the Committee for Government Relations of both the Healthcare Financing Study Group and the Committee on Healthcare Financing. In addition, Joe served on the Multi-Healthcare System Advisory Task Force of the Dormitory Authority of the State of New York and was also a member of the US Department of Housing and Urban Development FHA Secretary's Health Care Strategic Advisory Committee. Joe is a frequent guest lecturer for many organizations including: the US Department of Housing and Urban Development, the North Carolina Association of CPAs, the North Carolina and New York Health Care Financial Management Associations, Empire State Report Conference, the Hospital Trustees of New York State, the United Hospital Fund, the National Association of Public Hospitals, and the Hospital Association of New York State.
Joe also serves a Vice Chairman of the Board of Valley Hospital (a 457 bed acute care hospital with a $550 million dollar operating budget) and as Chairman of its Internal Operations Committee. He is also a member of its Governance, Executive, Audit and Investment Committees.