Golub Capital Provides $695 Million One-Loan Debt Facility to Support Radiology Partners' Growth
NEW YORK, Dec. 12, 2017 /PRNewswire/ — Golub Capital recently announced that as Sole Bookrunner, Sole Lead Arranger and Administrative Agent, it provided a $695 million GOLD facility to refinance an existing GOLD facility held by Radiology Partners, Inc. (“Radiology Partners” or “the Company”), a portfolio company of New Enterprise Associates (“NEA” or “the Sponsor”). Golub Capital led a syndicate of lenders in the firm’s largest lead GOLD deal to date. The refinancing will enable Radiology Partners to fund future growth, refinance existing debt and complete the acquisition of Southwest Diagnostic Imaging. GOLD financings are Golub Capital One-Loan Debt facilities.
“Since Golub Capital first partnered with Radiology Partners in 2013, the company has continued to expand its position as an innovative industry leader in radiology with the support of our flexible, competitively priced financing solutions,” said Stefano Robertson, Managing Director and Head of Healthcare Finance at Golub Capital. “Radiology Partners’ differentiated position and steady revenue growth makes them a desirable long-term partner and we are delighted to support one of their latest milestones, the acquisition of Southwest Diagnostic Imaging.”
Radiology Partners is the largest physician-owned and physician-led radiology practice in the United States. Formed by NEA and a highly experienced healthcare services management team in November 2012, the Company focuses on enhancing value for its clients through improvements in clinical quality, service and resource utilization. Using a variety of evidence-based clinical programs, Radiology Partners has demonstrated its commitment to a patient-first approach, ensuring consistent delivery of top quality radiology care. The Company’s physicians offer 24/7, year-round on-site and remote coverage to their diverse base of hospital and imaging center customers, providing final interpretations by local radiologists offering a complete range of sub-specialty care. The acquisition of Southwest Diagnostic Imaging establishes the Company as the leading provider of radiology services in Arizona.
“This tailored financing solution is a strong reflection of Golub Capital’s healthcare sector expertise and deep access to the capital markets critical to the continued growth of Radiology Partners’ practice. Golub delivered an extremely efficient deal on time and as expected, which is why they remain a valued partner to us,” said Mohamad Makhzoumi, General Partner and Global Head of Healthcare Services at NEA.
About Golub Capital Middle Market Lending
Golub Capital’s Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $400 million and is an arranger of credit facilities up to $750 million. Golub Capital’s award-winning team strives to establish long-term, win-win partnerships by providing dependable, fast and creative solutions that meet private equity sponsors’ and portfolio companies’ needs.
Golub Capital is a nationally recognized credit asset manager with over $20 billion of capital under management. For over 20 years, Golub Capital has provided credit to help medium-sized U.S. businesses grow. The firm’s award-winning Middle Market Lending business provides financing for middle market companies and their private equity sponsors. Golub Capital’s credit expertise also forms the foundation of its Late Stage Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling financing solutions, and we believe this has inspired repeat clients and investors. Today, the firm has over 300 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $20 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 210 portfolio company IPOs and more than 360 acquisitions. For additional information, visit www.nea.com
About Radiology Partners
Radiology Partners, the largest physician-led and physician-owned radiology practice in the U.S., is a multi-state, hospital-based practice serving approximately 450 hospitals and other healthcare facilities in 13 states. We are a physician-led practice whose mission is to transform radiology by innovating across clinical value, service and economics, while elevating the role of radiology and radiologists in healthcare. Using a proven healthcare services model, Radiology Partners provides consistent, high-quality care to patients, while delivering enhanced value to the hospitals, clinics, imaging centers, and referring physicians we serve. Learn more at www.radpartners.com
SOURCE Golub Capital