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Capital One Closes $217.1MM Senior Credit Facility for AccentCare

April 27, 2017, 07:18 AM
Filed Under: Healthcare

Capital One announced that it served as the lead arranger and syndication agent for a five-year, $217.1 million senior credit facility—consisting of a $167.1 million term loan and a $50 million revolving loan—for AccentCare, Inc., the fifth largest for-profit post-acute healthcare provider in the United States.

The proceeds of the term loan will be used to refinance existing debt and acquire Sta-Home Home Health & Hospice. The revolver will be used to meet the company’s working capital needs. With over 140 locations across 11 states, AccentCare serves approximately 89,000 patients annually.

“The acquisition of Sta-Home is a key element in our strategy of expanding our geographic footprint by acquiring the leading home health and hospice provider in Mississippi,” said Jeff Reynolds, Chief Financial Officer at AccentCare. “The creativity and energy that Capital One puts into each transaction they close with us has helped us execute on our business plan.”

“AccentCare has been a Capital One customer since 2010,” said Al Aria, Senior Managing Director, Capital One Healthcare. “Our long-term relationship, and expertise in the home health industry, allowed us to provide a flexible solution to support AccentCare’s expansion into a new geographic market that will further position the company as a leading national player.”

Capital One Healthcare is a leading provider of financial services to the industry. 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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