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MidCap Financial Closes $150MM Senior Revolving Credit Facility with Trusted MidCo

January 05, 2023, 07:55 AM
Filed Under: Staffing Services
Related: MidCap Financial

MidCap Financial provided a $150 million senior revolving credit facility to Trusted MidCo, LLC. The MidCap Financial credit facility includes an uncommitted option to increase the total facility size to up to $239 million. Proceeds from the MidCap Financial credit facility were used to refinance the Company’s prior credit facility and to provide for the business’ ongoing working capital needs.

Trusted is the leading labor marketplace and workforce management platform for the healthcare industry. The Company was founded in 2017 with a focus on the largest profession in healthcare: nursing. Since then, the Company has taken a process that has been dominated by recruiters and phone calls and turned that into a fully digital experience, connecting nurses directly to job opportunities and facilitating everything that needs to happen in between—including handling benefits, payroll, onboarding, and compliance.

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