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Fifth Street Arranges Credit Facilities for Recapitalization of Ob Hospitalist Group

July 05, 2016, 08:02 AM
Filed Under: Healthcare

Fifth Street Asset Management Inc. announced its affiliate, Fifth Street Management LLC, served as administrative agent, joint lead arranger and joint bookrunner for senior secured credit facilities supporting the recapitalization of Ob Hospitalist Group, Inc. (“OBHG”).  Headquartered in Mauldin, SC, OBHG is the leading provider of 24/7, onsite obstetrics hospitalist programs to hospitals in the U.S.  The financing included investments from Fifth Street Finance Corp., Fifth Street Senior Floating Rate Corp. and other Fifth Street investment vehicles.

OBHG is sponsored by a fund in the Private Equity Group of Ares Management, L.P.  This is the second financing that Fifth Street has led in support of portfolio companies of Ares Management, L.P. funds in the last 12 months.

“OBHG has a strong value proposition that allows for improved patient outcomes, increased revenue and reduced costs for partner hospitals, as well as enhanced operational efficiencies.  As a result, OBHG has become a leading provider and a valued partner to hospitals across the nation,” noted Sunny K. Khorana, Managing Director, Head of Sponsor Coverage at Fifth Street, adding, “OBHG’s primary mission is focused on elevating the standards of women’s healthcare by providing patients and their families greater access to quality obstetric care.  We are thrilled to support the company’s management, as well as our partners at Ares, by making this investment to help the company continue to expand and grow market share.” 

Ob Hospitalist Group (OBHG) began in 2006 with a vision to elevate the quality and safety of women’s healthcare.  Today, Greenville, SC-based OBHG leads the industry in developing and managing on-site OB/GYN hospitalist programs staffed with Board Certified physicians 24 hours a day, 365 days a year.  In partnership with hospitals, nursing staff, physicians and hospitalists we have developed a unique, comprehensive, financially viable OB/GYN hospitalist program that serves women, newborns, and their families. 

Fifth Street Asset Management Inc. is a nationally recognized credit-focused asset manager.  The firm has over $5 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corpand Fifth Street Senior Floating Rate Corp., as well as multiple private investment vehicles.

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