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TCA Global Provides $13MM Credit Line to Champion Pain Care

December 07, 2016, 07:16 AM
Filed Under: Healthcare

Champion Pain Care Corporation closed a senior secured credit facility with TCA Global Credit Master Fund, LP (“TCA”) for a maximum $13 million senior secured line of credit, of which the initial line of credit is $6.5 million is made available to the company to fund acquisitions of pain management clinics and provide working capital.

On the date of closing, $3,103,775 of the Credit Facility was advanced to close the acquisition of the assets of two pain management clinics in St. Augustine and Palatka, Florida, and to provide working capital. The Company intends to use the remaining amount, after fees, to fund additional acquisitions and provide more working capital. The company, at the sole discretion of TCA, may request an increase in the line of credit at agreed upon time periods and agreed upon amounts. The sum of the Initial Line of Credit and the subsequent line increases, if any, (the “Then Current Line Size”) shall not exceed the maximum line of credit.  Each subsequent line increase will require the Company to execute and deliver a new or revised revolving note to the Investor and be responsible for any fees and expenses associated with the line increase.

Champion Pain Care Corporation is a medical services holding company that is focused on creating a nation-wide network of clinics specializing in providing pain resolution treatments. Chronic pain alone affects 100 Million Americans and is a growing market as the population ages. Across the US, there are approximately 2,500 independent private pain management clinics operated by nearly 4,000 certified pain management specialists.

TCA Global Master Fund, (“TCA”), is a short duration, absolute return fund specializing in senior secured lending and advisory services to small, mainly listed companies predominantly in the United States of America, Canada, Western Europe and Australia.

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