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MidCap Financial Provides $44MM Senior Secured Credit Facility to AleraCare

May 31, 2023, 07:48 AM
Filed Under: Pharmaceuticals

MidCap Financial provided a $44 million senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare”). Proceeds from the MidCap Financial credit facility were used to support Hildred Capital Management’s (“Hildred”) acquisition of the Company, and to provide for the business’ ongoing working capital needs.

Founded in 2019 and headquartered in Phoenix, AZ, AleraCare is a leading provider of infusion and specialty pharmacy services for medications administered in a physician’s office, alternate site of care or home setting. The Company’s Ambulatory Infusion Centers offer a more convenient, comfortable, and cost-efficient alternative to hospital-based infusions for patients requiring medications to be administered by a healthcare professional. 

Hildred is a New York-based private equity investment firm that pursues growth equity investments in middle market healthcare companies with leading products, technologies, and services. Hildred invests in companies with revenues of up to $100 million and creates value from pursuing organic growth strategies, driving effective resource allocation, implementing operational improvements, generating business development, and supporting best-in-class management teams.

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