MidCap Financial Adds Six New Financing Partners And Increases Debt Capacity By $160 Million
BETHESDA, Md., Sept. 25, 2012 /PRNewswire/ -- MIDCAP FINANCIAL, LLC, the nation's leading independent commercial finance company focused exclusively on middle market healthcare companies, announced today that during the third quarter, it has obtained $160 million in credit commitments from six new lenders.
Two of the lenders joined MidCap's existing asset-based loan credit facility, while the other four new lenders are dedicated to MidCap's first mortgage seniors housing finance business.
These new commitments, together with MidCap's existing credit facilities, bring MidCap's total debt financing commitments to more than $1.2 billion from 23 different credit partners. Together with its equity capital commitments, MidCap now has in excess of $1.7 billion of financing capacity.
"We are certainly pleased with the support of these new financing partners," said David Moore, MidCap's CFO. "Their additional commitments further enhance our ability to originate loans in all four of our business lines, and we will utilize the additional capacity to continue addressing the credit needs of middle market healthcare companies."
About MidCap Financial, LLC:
MidCap Financial is a commercial finance company focused on middle market lending in the broad national healthcare industry. MidCap specializes in $5 million to $200 million loans. The company is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles, and focuses in four areas:
-Asset-Based working capital loans to healthcare providers collateralized by third-party accounts receivable and other assets;
-Leveraged loans to healthcare companies backed by private equity sponsors;
-Life Sciences loans to VC-backed and public pharmaceutical, biotech, and medical device companies;
-Real Estate loans to skilled nursing facilities, senior housing properties, and medical office buildings
Additional information about MidCap Financial can be found at www.midcapfinancial.com
MidCap Financial, LLC
David G. Moore, CFO
SOURCE MidCap Financial, LLC