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Essex Closes $77.57MM Balance Sheet Recap for CAN Community Health

December 18, 2019, 08:50 AM
Filed Under: Healthcare

Essex Capital Group, Inc. announced that the firm recently arranged a $77,570,000 balance sheet recapitalization for CAN Community Health, Inc. ("CAN" or the "Company"), a private, not-for-profit organization dedicated to the treatment, care and continual wellness of people living with HIV, hepatitis C, STDs and other diseases. The Company has been serving the needs of the HIV community in Florida and the Southeast US since 1991.  CAN currently operates 34 medical clinics, offering medical, dental, psychological and lifestyle counseling to all patients, regardless of their financial situation, insurance status, or ability to pay.

Having completed the acquisition of two specialty pharmacies in 2018, CAN has grown exponentially over the last 18 months.  As a part of this growth, CAN management decided that the Company needed to seek out a new financial partner that had the financial capacity and institutional understanding of their industry to support the company's continued growth.  Having successfully worked with CAN raising $95 million to fund the 2018 transaction, Essex was pleased to assist management in securing the right financing partner once again.

Richard E. Carlisle, CAN CEO commented, "CAN is committed to grow its Mission, and when our existing lender put up roadblocks to expanding services for our patients, we asked Essex to find a solution. Working together we were able to arrange a financial restructuring that will enable CAN to continue to grow and provide enhanced medical services to those in need. In my experience, Bob and Rob are tenacious advocates for a client and always get the job done.  I consider Essex a part of the CAN family." 

Essex Capital acted as the Company's exclusive financial advisor in this transaction.

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