Douglas A Nail

Practice Areas

Financial Services

Healthcare

Commercial Finance

Healthcare Transactions

Career

Doug Nail is in his 35th year of representing lenders in asset-based, cash flow and other secured finance transactions at Parker Hudson and is the architect and head of Parker Hudson’s national Healthcare Finance practice. He has spent the last 26-plus years advising lenders on sophisticated financing transactions in nearly every sector of the healthcare space and involving the legal issues specific to this highly regulated and complex business sector. During that time, Doug has led or advised on every one of the nearly 200 Healthcare Finance engagements for which Parker Hudson has served as lender’s counsel. His deep understanding of the healthcare industry and extensive experience with the business and regulatory environment affecting healthcare borrowers allows him to provide his clients with penetrating insights and industry-specific knowledge and experience that maximize the chances of deal success in this highly regulated space.

Doug also has extensive experience representing lenders in non-healthcare asset-based loan transactions and experience representing lenders in commercial loan portfolio sales and purchases and debtor-in-possession and exit financing deals.

Doug is committed to safeguarding the interests of his lender clients while remaining focused on the parties’ objective to get to an agreement. His client-focused approach, deal-centric demeanor and responsive style ensures that the lenders he works with have the highest degree of confidence that their deals are in good hands.

Doug is a former member of the Firm’s Executive Committee and former Co-Chair of the Firm’s Recruiting Committee.

Professional Memberships

State Bar of Georgia: Legal Opinion Subcommittee Former Member; Uniform Commercial Code Committee Member, Corporate and Banking Law Section Member

American Bar Association: Member

Macalester College Parent Council (2017-2020)

St. Martin in the Fields Episcopal Church in Atlanta, Georgia: Active Member

St. Martin's Episcopal School Trustee (2001-2007)

Publications

Panelist, “Accounts Receivable Essentials Mostly Explained,” 2023 HMAC Fall Conference (November 2023)

Participant, “Accounts Receivable Financing Roundtable,” HUD AR Loans conference call (July 2022)

Speaker, AR Financing Training for HUD Attorneys (May 2022)

Presenter, "Collateral Analysis – Beware of the 'Gotchas' - Part II," Parker Hudson webinar (September 1, 2021)

Author, "COVID-19 Relief And Its Impact On Secured Healthcare Lenders," The Secured Lender (April 2021)

Panelist, "Revised form of HUD Intercreditor Agreement for use in skilled nursing facility financings," Georgia Institute of Continuing Legal Education Secured Lending Seminar (February 6, 2014)

Speaker and Author, "Healthcare Finance - Issues for the Secured Lender," Georgia Institute of Continuing Legal Education Secured Lending Seminar (2012)

Contributor, "Lending Law in Georgia," A Guide for Commercial Lenders (2008)

Speaker and Author, "Real Estate Collateral," Lorman Education Services Commercial Lending Requirements and Loan Documentation in Georgia Seminar (2003)

Speaker and Author, "Landlord and Mortgagee Agreements" Georgia Institute of Continuing Legal Education Secured Lending seminar (1996)

Experience

Represented a national bank’s specialty healthcare group, as lender, in a secured revolving and term loan facility to a sponsor-backed, multi-state diagnostic imaging company. We originally documented this as an asset-based transaction, then over a seven-year period documented the borrowers’ post-default workout and forbearance, including sponsor credit enhancement, before later redocumenting the facility as a cash flow transaction. The transaction involved extensive legal and regulatory diligence, with a structure including management arrangements and joint ventures requiring analysis of federal Anti-Kickback Statute, Stark Law, Medicare Anti-Markup Rule, and state corporate practice of medicine issues.

Represented a national bank, as agent, in the recapitalization of a lender finance company in providing a syndicated credit facility to lender finance company, along with negotiating complex intercreditor agreements and restructuring the borrower’s cash management in connection with subordinated debt and a captive, separately financed participant.

Represented a national bank, as agent, in the re-documentation of senior secured syndicated ABL credit facility. The transaction included as eligible collateral a significant amount of in-transit inventory and the negotiation with an array of borrower’s logistics providers of documentation necessary to ensure ongoing perfection of Agent’s security interest in such inventory while in transit from Asia to the U.S.

Represented a non-bank specialty healthcare lender with respect to a senior secured ABL credit facility to a not-for-profit safety net hospital closed in connection with the acquisition by a Georgia county from a local hospital authority of the underlying real estate and related hospital lease to the borrower and defeasance of hospital authority bonds. Parker Hudson’s Healthcare practice group was actively engaged to ensure compliance with, or exemption from, the Georgia Hospital Acquisition Act and CON requirements in connection with restructuring transactions.

Represented a non-bank specialty healthcare lender in senior secured ABL credit facility to provider of products for joint replacement, including hip and knee implants and robotic-assisted technology platform. The transaction involved extensive collaboration with Parker Hudson’s Healthcare practice group in assessing regulatory issues applicable to medical device manufacturers and extensive negotiations of an intercreditor agreement with the term lender.

Education

Awards