Keeping a Clinic’s Doors Open Through Debt Refinancing
Whole Woman’s Health (WWH) provides cutting-edge, high-quality health care, including abortion services, to women around the United States. Founded by Amy Hagstrom Miller in Austin, Texas, in 2003, the organization has become a leader in improving and expanding quality abortion care through service delivery, advocacy and education.
Due to predatory legislation targeting abortion providers in Texas, WWH has been forced to repeatedly open and close clinics since 2013. This legislation has included hospital admitting privileges, restrictions on the use of medication abortion, mandatory waiting periods between counseling and procedures, and more. In 2016, WWH challenged the hospital admitting privilege law in the U.S. Supreme Court. In order to cover the costs of opening and closing their doors, WWH was forced to take out high-interest loans.
Tara Health provided WWH to:
1) Refinance the organization’s debt, reducing interest rates from as much as 25 percent to as low as 3 percent,
2) Provide an unrestricted grant to their nonprofit sister organization, Whole Woman’s Health Alliance, so they could reopen their flagship clinic in Austin, Texas.
Our investment approach enabled WWH to redeploy capital that would otherwise be spent on high-interest debt financing. Instead, after winning its U.S. Supreme Court case, WWH was able to use the capital we provided to keep their existing clinics open and finally reopen their Austin clinic.