IMPORTANT: Read our announcement.

HFA Partners is an Independent Registered Municipal Advisor or “IRMA”. Our mission is to help not-for-profit hospitals lower the cost of debt and minimize balance sheet risk. We are not affiliated with any bank, broker-dealer or investment manager and are solely accountable to our clients.


Based in Florida, HFA professionals advise not-for-profit healthcare providers throughout the U.S. on debt structure including the issuance of tax-exempt and taxable bonds, bank direct placements, bank loans, bond ratings, interest rate swaps, capital planning, debt capacity analysis, bondholder relations, and continuing disclosure. Retaining HFA as IRMA qualifies under the special exception to the Securities and Exchange Commission’s new Municipal Advisor rule permitting broker-dealers to maintain full communications with issuers. HFA Partners, LLC is registered with the SEC and the MSRB.


The HFA team is led by Pierre Bogacz, a veteran healthcare finance specialist with over 25 years of experience in the corporate and municipal capital markets. Pierre has an MBA in Finance from The University of Texas, a BA in Economics and Political Science from Southern Methodist University in Dallas, and holds a Series 50 license.

Our expertise in all areas of the debt structure has been recognized by leading financial publications and industry associations including Modern Healthcare, The Bond Buyer, HFMA Strategic Financial Planning, The Advisory Board, and Debtwire. We serve as resident financial advisor on the HFMA CFO Forum Ask the Expert panel.


We have advised healthcare providers throughout the U.S. from multi-state health systems to sole community providers.

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