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MidCap Financial Arranges $65MM Financing for MTS Health Acquisition

November 18, 2014, 08:01 AM
Filed Under: Pharmaceuticals

MidCap Financial served as joint lead arranger, joint bookrunner and syndication agent for a $65 million senior secured credit facility in support of the acquisition of Celerion, Inc. by MTS Health Investors, LLC ("MTS").

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.

MTS, located in New York, is a healthcare private equity firm that makes investments in operating companies within services sectors of the healthcare industry. MTS targets profitable companies that deliver cost-effective services and have the ability to gain market share in industry segments that are typically large, growing, fragmented and poised for consolidation.

"We are very excited to support MTS's acquisition of Celerion," said Josh Rothenberg, Director at MidCap. "MTS is an ideal sponsor for Celerion given its track record and experience in the healthcare industry, and we believe Celerion is well positioned to continue its growth as a leader in early-stage clinical research, a market we view favorably."

Formed in 2010 and based in Lincoln, NE, Celerion provides early stage clinical research solutions to pharmaceutical, biotechnology and generic drug companies. The company conducts and analyzes First-in-Human, clinical Proof-of-Concept, cardiovascular safety (TQT, robust QT), ADME and NDA- enabling clinical pharmacology studies. Celerion provides expertise on modeling and simulation, study design, medical writing (protocols and reports), clinical data sciences, biostatistics, and PK/PD analysis as well as small and large molecule bioanalytical assays through clinical drug development.

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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