LBC Credit Partners Acts as Joint Lead Arranger on $50,000,000 Credit Facility for Prospira PainCare
PHILADELPHIA, Feb. 6, 2013 /PRNewswire/ -- LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, today announced that it served as joint lead arranger and syndication agent for a $50,000,000 senior secured credit facility to support the purchase of the National Pain Institute by Prospira Pain Care ("Prospira") and to continue developing Prospira's national pain management platform. Prospira is a national comprehensive pain management company headquartered in Mountain View, CA, and is a portfolio company of Enhanced Equity Funds, Webster Capital and Pulse Equity Partners.
Prospira was formed in July 2012 with the acquisition of The Spine Center of Southeast Georgia and the affiliated Brunswick Pain Treatment Center, a comprehensive neurosurgery and pain management practice located in Southeast Georgia. Shortly thereafter in September 2012, Prospira purchased Bay Area Pain & Wellness Center, a leading pain management physician practice in the San Francisco Bay Area. Most recently, in December 2012 Prospira closed on the acquisition of National Pain Institute, one of the largest pain management providers in Florida.
Prospira PainCare partners with world class interventional pain management physicians and rehabilitation specialists. Prospira affiliated physician practices provide a comprehensive program in which clinical professionals from a variety of disciplines work together in an integrated manner to achieve common treatment goals. Their multidisciplinary approach to pain care is designed to effectively improve our patients' quality of life and overall health.
Enhanced Equity Funds ("EEF") manages approximately $600 million of committed capital across two funds with the most recent raised in 2010. The Principals of EEF have over 100 years of combined experience investing in healthcare companies and possess strong relationships and knowledge within the industry. They specialize in working with smaller companies (typically less than $100 million in revenues) and take a creative approach to building value. EEF employs a flexible, but disciplined investment strategy focused on value creation through organizational development, organic growth and acquisitions. EEF seeks to invest $10 to $50 million or more over the life of a portfolio company in a variety of flexible structures.
Webster Capital is a private equity partnership with over $200 million in capital under management which invests in branded consumer, business to business, and healthcare services companies. Webster focuses on companies with EBITDA between $3-15 million and transaction values less than $100 million. Webster Capital provides equity financing, expertise and a broad contact network for management buyouts and growth capital.
Pulse Equity Partners is a private equity investor dedicated to the future of health and wellness by investing in and building businesses in healthcare services, active lifestyle and nutrition. A singular focus in health and wellness companies and a world-class leadership team provide solid strategic, operational and financial expertise for Pulse's current and future portfolio companies. Pulse has assembled a network of senior-level advisors and has a close working relationship with IDEO, a leading innovation firm whose work with entrepreneurs and portfolio companies is designed to enhance their growth and development. This strategy results in successful businesses at the forefront of the health and wellness revolution built for the future, to innovate, grow, and endure.
About LBC Credit Partners, Inc.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.25 billion of committed capital, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has offices in New York City and Chicago. For more information, visit www.lbccredit.com.
Phone: (610) 631-5702
SOURCE LBC Credit Partners