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12/05/2017 in news
ENT and Allergy Associates, LLP Announces
New Long Term Capital Financing Agreement with M&T Bank
Tarrytown, NY-December 5, 2017: ENT and Allergy Associates (ENTA), the largest ear, nose and throat specialty and sub-specialty practice in the United States, announced today it has extended and further strengthened its existing relationship with M&T Bank, a leading financial institution with a substantial, broad and deep portfolio in the healthcare sector.
The new long-term credit agreement with M&T, in excess of $9 million, will provide ENTA with funding for new offices and investments in medical equipment and technology and enable the Practice to maintain its leadership position well into the future.
ENTA’s relationship with M&T was initiated in 2012, and since that time the Practice has utilized its financial backing to continue to build and upgrade its footprint of state-of-the-art clinical sites across New York and New Jersey. Today the nearly 200 board certified physicians of ENTA serve over 75,000 patients each month in their 42 locations, deploying leading edge procedures and technology, providing same day appointments to those who call or book online and offering unique coordinated care affiliations with three major tertiary care centers.
Paula Mandell, M&T’s Senior Vice President & Area Executive of New Jersey, Connecticut, Westchester & Rockland Counties, stated “ENTA is a leading provider in its field and we are proud to have the group as part of our robust healthcare portfolio. M&T’s financing has allowed ENTA to provide quality healthcare services to more people in our communities and we greatly look forward to many more years of productive partnership.”
Robert Green, MD, President of ENTA, noted “Being able to offer our patients the medical care they deserve requires us to be able to access the funding we need, when we need it. Thanks to M&T Bank, we will continue to be in that exact position so we may ensure that our physicians can do everything possible for those who rely on their expertise.”
“ENTA and M&T are the perfect cohorts in terms of being able to deliver superior medical care,” observed Robert Glazer, CEO of ENTA. “Our Practice is all about quality of care and access to that care. Having the support of M&T means that our Practice can continue to plan for, implement and achieve the advancements and breakthroughs that have always inured to our patients’ benefit. From funding the construction of new clinical sites to actively recruiting the next generation of physicians to investing in new technology, M&T’s support has been instrumental in ensuring we continue to achieve our mission to do everything possible for our patients. We celebrate this new agreement and look forward to many more years of mutual success.”
Added Arthur Schwacke, ENTA’s CFO, “M&T is the perfect partner for us. They have an extremely clear understanding of not just what we as medical practitioners need, but also why and how. Simply stated, they share our vision and I couldn’t be more delighted we have finalized this agreement.”
About ENT and Allergy Associates, LLP:
ENT and Allergy has over 195 physicians practicing in 40+ office locations in Westchester, Putnam, Orange, Dutchess, Rockland, Nassau and Suffolk counties, New York City and northern/central New Jersey. The practice sees over 75,000 patients per month. Each ENT and Allergy Associates clinical location provides access to a full complement of services, including General Adult and Pediatric ENT and Allergy, Voice and Swallowing, Advanced Sinus and Skull Base Surgery, Facial Plastics and Reconstructive Surgery, Disorders of the Inner Ear and Dizziness, Asthma, Clinical Immunology, Diagnostic Audiology, Hearing Aid dispensing, Sleep and CT Services. ENTA has a clinical alliance with The Mount Sinai Hospital for the treatment of diseases of the head and neck and esophageal cancer, a clinical alliance with the Montefiore Medical Center for the tertiary treatment of pediatric patients in New York City and the Hudson Valley, a clinical alliance with the Northwell Health for the tertiary treatment of pediatric patients in Queens, Nassau and Suffolk Counties and a partnership with the American Cancer Society to educate and treat patients with smoking disorders and cancer. The Practice has also expanded its clinical capabilities to include advanced Immunodeficiency trials. ENT and Allergy Associates Management and Marketing teams have been recognized numerous times with awards and accolades including Health Leaders Media Top Leadership Team in Healthcare, Top Doctor Awards, ACS recognition award, AHAA Audiologist awards, The Westchester County Association Big W Awards and the Healthcare Marketing Report Healthcare Advertising Awards.
About M&T Bank:
M&T Bank Corporation (NYSE:MTB)(“M&T”) is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.