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LBC Credit Partners is Joint Lead Arranger on $50MM Facility for Prospira PainCare

February 07, 2013, 07:57 AM

LBC Credit Partners served as joint lead arranger and syndication agent for a $50 million senior secured credit facility to support the purchase of the National Pain Institute by Prospira Pain Care (Prospira) and to continue developing Prospira’s national pain management platform. Prospira is a national comprehensive pain management company headquartered in Mountain View, CA, and is a portfolio company of Enhanced Equity Funds, Webster Capital and Pulse Equity Partners.

Prospira was formed in July 2012 with the acquisition of The Spine Center of Southeast Georgia and the affiliated Brunswick Pain Treatment Center, a comprehensive neurosurgery and pain management practice located in Southeast Georgia. Shortly thereafter in September 2012, Prospira purchased Bay Area Pain & Wellness Center, a leading pain management physician practice in the San Francisco Bay Area. Most recently, in December 2012 Prospira closed on the acquisition of National Pain Institute, one of the largest pain management providers in Florida.

Prospira PainCare partners with world class interventional pain management physicians and rehabilitation specialists. Their multidisciplinary approach to pain care is designed to effectively improve our patients' quality of life and overall health.

Enhanced Equity Funds (EEF) manages approximately $600 million of committed capital across two funds with the most recent raised in 2010. The Principals of EEF have over 100 years of combined experience investing in healthcare companies and possess strong relationships and knowledge within the industry.

Webster Capital is a private equity partnership with over $200 million in capital under management which invests in branded consumer, business to business, and healthcare services companies. Webster focuses on companies with EBITDA between $3 million -15 million and transaction values less than $100 million.

Pulse Equity Partners is a private equity investor dedicated to the future of health and wellness by investing in and building businesses in healthcare services, active lifestyle and nutrition.

LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions.

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