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Capital One Provides $40MM Credit Facility to Advanced Recovery Systems

September 01, 2016, 07:42 AM
Filed Under: Healthcare

Capital One announced  that it served as sole lead arranger and administrative agent for a $40 million senior secured credit facility consisting of a $30 million real estate term loan and a $10 million asset-based revolver. The borrower, Advanced Recovery Systems (ARS), will use the proceeds for expansion and working capital. 

Formed in 2013, ARS is an integrated behavioral healthcare management company dedicated to the treatment of addiction, substance abuse, eating disorders and related mental health issues. The company currently operates five facilities in Florida, Colorado and Washington as well as outpatient clinics and sober living homes. 

“ARS is in an exciting growth phase as they continue to expand capacity,” said Al Aria, Senior Managing Director for Capital One Healthcare’s corporate finance team. “With their track record and veteran leadership team, we were able to use our experience working with behavioral health companies to structure the credit facilities to reflect the company’s investments to date.”

“We were looking for a financial partner who understands our growth strategy and the complexities of a behavioral healthcare business,” said Dr. Mitchell Eisenberg, ARS co-founder and CEO. “The Capital One team can provide additional capital and products as we extend our reach.”

Capital One Healthcare is a leading provider of financial services to the industry with over $11 billion in total outstanding balances. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.

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