UnitedHealth Group invests $5.4M in The Help Group’s tax-exempt revenue bonds

The Help Group received $5,395,000 in capital that will support development of its newest campus serving Los Angeles-area children, adolescents and young adults with autism spectrum disorders.

UnitedHealth Group (NYSE:UNH) purchased The Help Group’s tax-exempt revenue bonds through the California Health Care Investment Program, which gives California health care entities access to capital at rates that are highly competitive with those of conventional financing. Additionally, given the dollar size of the project and bond issue, The Help Group also qualified for a cost of issuance subsidy of $554,000, which covered nearly the entire amount of the organization’s bond issuance costs. The cost of issuance was subsidized by UnitedHealth Group’s Capital Access Small Issuance Program.

UnitedHealth Group’s California Health Care Investment Program is a 20-year, $200 million commitment to health care organizations that provide services to underserved, low-income and underinsured communities and populations throughout the Golden State.

The Help Group will use the proceeds from the bonds to build a 30,000-square-foot, state-of-the-art complex located on 2 ¼ acres adjacent to its headquarters. This complex will include a special education and therapy center, autism research center, training center for professionals and parents, and space for administrative, therapy, mental health, psychiatric and counseling services.

Founded in 1975, The Help Group is the largest, most innovative and comprehensive nonprofit of its kind in the United States serving children with special needs related to autism, Asperger’s disorder, learning disabilities, ADHD, mental retardation, abuse and emotional problems.

“We are grateful to UnitedHealth Group for its commitment to the health and well-being of the children of our community and for its support of our efforts to serve the ever growing number of children with autism who need our help,” said The Help Group President and CEO Barbara Firestone, Ph.D.

“UnitedHealth Group is committed to investing in California’s health care infrastructure to help ensure that all Californians have access to quality care. We are pleased to be able to assist The Help Group’s efforts in opening new doors of opportunity to the children and families in the Los Angeles area,” said Steve Nelson, CEO, Western Region of UnitedHealthcare.

The Centers for Disease Control and Prevention calls autism “an urgent public health concern.” A recent study indicates that autism now affects one in 91 children, including one in 58 boys.

Source UnitedHealth Group