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MidCap Financial Provides $20MM Senior Revolving Credit Facility to Village Fertility Pharmacy

May 08, 2023, 07:50 AM
Filed Under: Pharmaceuticals
Related: MidCap Financial

MidCap Financial provided a $20 million senior revolving credit facility to ABD Group Inc. (“Village Fertility Pharmacy,” “VFP”). The MidCap credit facility includes an uncommitted option to increase the total facility size up to $35 million. Proceeds from the MidCap credit facility were used to refinance the Company’s prior credit facility and support VFP’s rapid growth.

Richard J. Burkett, VFP Pharmacy CEO and Board Director, stated “We are thrilled to have MidCap Financial as a partner. They understand the fertility pharmacy sector and our management team looks forward to working with them as we continue to establish VFP as the leading fertility pharmacy partner with physicians, clinics, patients, and benefit managers. Our partnership with MidCap Financial also enables us to expand into other women’s health products and increase our focus in targeted geographies.”

“We are excited to continue to build our partnership with Village Fertility Pharmacy. The management team has been a pleasure to work with, and they’re well positioned for meaningful growth in the fertility pharmacy space,” Garrett Fletcher, product head of asset-based lending at MidCap Financial, said.

Village Fertility Pharmacy is a leading independent provider of women’s fertility services and drugs, servicing all 50 states in the United States. The Company is focused on serving patients with care and precision. With more than 30 years of experience in the fertility industry, VFP provides safe, quality pharmacy services, excellent customer service, and complete education to patients in a cost-effective manner.

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