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MidCap Arranges $62.5MM Credit Facility for Consonance Capital Acquisitions

October 06, 2014, 07:38 AM
Filed Under: Medical

MidCap Financial announced that it served as sole arranger, sole bookrunner and administrative agent for a $62.5 million senior secured credit facility in support of the acquisition of excelleRx, Inc. and PBM Holding Company, Inc. by Consonance Capital Partners. The acquisitions will be combined with Enclara Health, LLC, an existing portfolio company of Consonance. The businesses operate in the hospice pharmacy sector.

Marc Preiser, Managing Director of MidCap said, “We are delighted to be working with Andy Horowitz and the Enclara management team as they transform the hospice pharmacy sector and enthusiastically support both this groundbreaking combination as well as their continued development and growth going forward.”

“We have known the Consonance Team for many years as long term experts in building transformative health care leaders. MidCap is pleased to be working with Consonance on this transaction and confident that their deep institutional knowledge will result in an industry leading provider in the hospice pharmacy sector”, added Clare Bailhé, President, Leveraged Loan & Financial Sponsors.

MidCap’s Leveraged Loan & Financial Sponsors team provides cash flow-based financing to support high quality, middle market companies across the United States.

Consonance is a leading private equity firm focused exclusively on the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients. With a history of  successfully investing across multiple healthcare sub-sectors, the principals of the firm bring a wealth of experience, insights, and an extensive network of relationships to existing and prospective management teams and portfolio companies.

MidCap Financial is a commercial finance company focused on lending to middle market companies. MidCap specializes in $5 million to $200 million loans. The company is headquartered in Bethesda, MD, with offices in Los Angeles and Chicago.

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