To help ensure that all Californians have access to quality care
UnitedHealth Group has invested $5.4m in the Help Group to support development of its latest campus serving Los Angeles-area children, adolescents and young adults with autism spectrum disorders. The company 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 when compared to those of conventional financing.
In addition, 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.
According to UnitedHealth Group, the Help Group will use the proceeds from the bonds to build a 30,000-square-foot complex, adjacent to its headquarters. It 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.
Barbara Firestone, president and CEO of The Help Group, said: “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.”
Steve Nelson, CEO of western region at UnitedHealthcare, said: “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.”