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MidCap Financial Acts as Syndication Agent in Lee Equity Acquisition

November 17, 2014, 07:15 AM
Filed Under: Healthcare

MidCap Financial, LLC, a leading commercial finance company focused exclusively on middle market companies, served as syndication agent for a senior credit facility to support the acquisition of LDM Group, LLC by Lee Equity Partners, a leading middle-market private equity firm. The acquisition will be combined with PDR Network, an existing portfolio company of Lee Equity.

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

Founded by Thomas H. Lee in 2006, Lee Equity is a leading private equity firm specializing in acquisitionsand buyouts of middle-market companies with high growth potential. It focuses on investing in the business services, consumer and retail, distribution, financial services, healthcare services and media sectors.

Bryan Rupprecht , Managing Director at MidCap, stated, “We are delighted to support Lee Equity and its portfolio company, PDR Network, in their acquisition of LDM Group. The combine business represents a clear leader in the healthcare information market and is expected to benefit from expanded scale and cost synergies achieved through improved operational leverage.”

The combined business is a leading provider of behavior based prescription management programs for patients, drug manufacturers, pharmacies and physicians, as well as offering drug labeling information for regulatory and compliance purposes. It delivers important health information proven to positively change health behaviors in the largest, most credible professional and patient/consumer communications network, including the largest network of EHRs surpassing 250,000 prescribers and a network of over 16,000 clinically-oriented retail pharmacies caring for patients nationwide.

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, Maryland, with offices in Chicago and Los Angeles, and focuses in four areas: asset-based working capital loans collateralized by third-party accounts receivable and other assets; Leveraged loans to companies backed by private equity sponsors; Life Sciences loans to VC-backed and public pharmaceutical, biotech, and medical device companies; and Real Estate loans to skilled nursing facilities, senior housing properties, and medical office buildings.

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