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Prospect Capital Provides $17MM in First Lien Debt to Inpatient Care

Date: Jun 13, 2016 @ 11:31 AM
Filed Under: Healthcare

Prospect Capital Corporation has invested $17.0 million in first lien senior secured floating rate debt issued by Inpatient Care Management Company, LLC ("Inpatient Care").

Founded in 2007, Inpatient Care and affiliates provide general surgery services to hospitals with a focus on emergency care. Inpatient Care surgeons are available to meet on-call demands for the community hospitals served by Inpatient Care. Inpatient Care's surgicalist program addresses the workflow challenges in the emergency room department with an outsourced, dedicated staff of on-call surgeons. The company's business model provides a comprehensive solution to emergency surgical care that seeks to reduce hospital length of stays, thereby benefiting patients, hospitals, and payors.

"Inpatient Care offers hospitals a differentiated staffing solution enabling emergency rooms to operate with improved efficiency and patient outcomes," said David Moszer, a Managing Director of Prospect Capital Management L.P. "We are pleased to provide financing to Inpatient Care to support the company's initiatives. Prospect is an experienced lender to value-added healthcare services companies, and we seek opportunities to support other companies in the healthcare services industry."

Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

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