MidCap Financial Acts as Sole Bookrunner, Lead Arranger & Administrative Agent in Senior Financing for Great Point Partners' Leveraged Recapitalization of Professional Orthopedic & Sport Physical Therapy

Nov 01, 2011, 08:54 ET from MidCap Financial, LLC

BETHESDA, Md., Nov. 1, 2011 /PRNewswire/ -- MidCap Financial, LLC ("MidCap"), the nation's leading commercial finance company focused exclusively on middle market healthcare companies, announced today that it served as Sole Bookrunner, Lead Arranger, Documentation Agent and Administrative Agent in a senior secured credit facility in support of a leveraged recapitalization and growth equity investment in Professional Orthopedic and Sport Physical Therapy ("ProPT") by Great Point Partners, LLC ("GPP").  MidCap's Leveraged Loan team provides cash flow-based senior secured financing to support investments made by private equity sponsors in high quality, middle-market companies across the United States.  GPP, based in Greenwich, Connecticut, is a leading health care investment firm with approximately $450 million of equity capital under management.

Founded in 1998 and headquartered in Whitestone, NY, ProPT is a leading provider of physical therapy and rehabilitation services in the New York metropolitan area.  The Company operates an athletic training facility and 11 outpatient physical therapy centers which provide treatment to patients suffering from musculoskeletal impairments associated with accidents, sports injuries, surgeries, and various other medical conditions. ProPT's rehabilitation programs and services help patients minimize physical and cognitive impairments and maximize functional ability so that they may return to competition, the workplace, and/or their normal lifestyle. The Company's athletic training facility is a world class fitness center that contains among other amenities, an indoor track and athletic field, synthetic hockey rink, golf cages, and a weightlifting complex. The first-class facility and expert trainers attract a wide array of athletes at the high school, college, and professional levels, along with other active youth and adults, and has been recognized as one of the finest training facilities in the Northeast. The Company's facilities feature the latest equipment and are staffed with experienced and knowledgeable employees, many of whom are considered experts in the field of physical therapy, hand therapy, and/or physical fitness.

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
Clare Bailhe, President - Leveraged Lending

SOURCE MidCap Financial, LLC