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NXT Capital Provides $78.1MM for Roscoe Medical’s Acquisition of Carex Health Brands

March 31, 2014, 07:52 AM
Filed Under: Medical

NXT Capital announced that it has provided a $78.1 million senior secured facility to fund Roscoe Medical’s acquisition of Carex Health Brands. Roscoe Medical is a portfolio company of Tenex Capital Management.

NXT Capital was the joint lead arranger, sole bookrunner and administrative agent for this transaction.

“This is the second financing NXT Capital has successfully led for Tenex in recent months,” said Scott Galletti, Managing Director, Tenex Capital Management. “Significant healthcare sector experience coupled with a long track record of dependable execution made NXT an ideal financing partner for this transaction.”

Carex Health Brands markets its products under the Carex, Apex, Bed Buddy and TheraMed brand names. The company’s brands have achieved broad customer awareness in the marketplace and are used by home care patients, the mobility challenged, senior citizens, and members of the general public. Headquartered in Boston, MA, Carex is the market leader in branded home medical equipment sold through the drug store chains, mass merchants, DME dealers and grocery retailers.

Roscoe Medical is a major manufacturer and distributor of innovative healthcare products that promote independence and better living in the homecare setting. Headquartered in Strongsville, Ohio, Roscoe Medical’s core product lines include respiratory products, CPAP products, pain management products and durable medical equipment.

Tenex Capital Management is a private equity fund with $452 million of committed capital that invests in middle-market companies experiencing significant change in their markets, operations or capital structure. Based in New York City, Tenex’s successful track record of investing spans many industries including industrials, manufacturing, health and business services.

NXT Capital provides structured financing solutions to middle-market companies and real estate investors through its Corporate Finance, Equipment Finance and Real Estate Finance groups. Based in Chicago with offices in, Atlanta, Charlotte, Dallas, Kansas City, Los Angeles, Minneapolis/St. Paul, New York, Phoenix and San Francisco, NXT Capital targets senior financing opportunities of up to $150 million with a hold size up to $50 million.

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