Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a $14.5 million senior credit facility to support the recapitalization and growth of Precision Toxicology, LLC by private equity sponsor, BelHealth Investment Partners, LLC.
Based in San Diego, Precision Toxicology is a clinical laboratory that specializes in providing quantitative drug testing, primarily for the purpose of helping physicians monitor their patients undergoing treatment for pain or substance abuse. Precision’s objective is to improve patient adherence and compliance with their prescription regimen and protect medical practices from liability. The company’s services help clients by monitoring appropriate use or identifying abuse of prescription drugs.
“We are pleased to partner with Monroe Capital on this transaction,” said Dave Sturek, Managing Director of BelHealth. “Their group is highly experienced in the healthcare industry and we look forward to working with them to help Precision Toxicology continue its strong growth trajectory and become a national competitor in the clinical diagnostic segment.”
Ken Whitfield, Precision’s CFO, added, “The new credit facility will provide us with increased flexibility as we continue to expand our customer base, increase our volumes and improve our technology. Our management team is excited to partner with Monroe through our next growth phase.”
Monroe Capital LLC is a leading provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada.