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Prospect Capital Provides $47MM to Support Acquisition of Atlantis Health Care Group

March 21, 2013, 07:35 AM
Filed Under: Healthcare

Prospect Capital Corporation provided $47 million of senior secured first-lien debt financing to support the acquisition of Atlantis Health Care Group (Puerto Rico), Inc. (Atlantis) by ICV Partners, a leading investment firm focused on lower middle-market companies. Concurrent with the acquisition, ICV formed American Alliance Dialysis Holdings, a kidney dialysis treatment platform focused on acquiring, developing, and operating dialysis facilities throughout North America and the Caribbean.

Headquartered in Trujillo Alto, Puerto Rico, Atlantis was founded in 2000 has since grown into Puerto Rico's second largest provider of kidney dialysis services for patients suffering from end-stage renal disease ("ESRD"). With 13 facilities located throughout the island of Puerto Rico, Atlantis provided approximately 200,000 treatments last year and currently has a patient census of nearly 1,400. Atlantis also contracts with 12hospital networks to provide inpatient acute dialysis services.

"Prospect played a leadership role with a creative financing solution and efficient transaction execution," said Cory Mims, a managing director of ICV Partners. "We have closed numerous transactions with Prospect and continue to book repeat business with Prospect because of our positive experiences."

"Prospect is pleased to support ICV with this important acquisition of a market-leading company that delivers best-of-breed care to its patients," said David Moszer, managing director of Prospect Capital. "Prospect has completed many healthcare investments in the past several years. We look forward to evaluating other attractive healthcare opportunities and supporting AAD's future growth."

Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses.

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