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MB Business Capital Announces $11.25M Facility for Management Health Systems

January 19, 2017, 08:18 AM
Filed Under: Healthcare

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $11,250,000 senior credit facility to Sunrise, Florida-based Management Health Systems, LLC, dba MedPro Helathcare Staffing (MedPro). Proceeds of the new MB credit facility were used to facilitate a recapitalization of MedPro led by Harren Equity Partners.  Brightwood Capital Advisors provided a new senior term loan as part of the transaction.  MB’s credit facility will be used going forward to fund working capital needs to support  continued growth of the business.

MedPro provides diversified medical staffing, including registered nurses, allied health professionals, physical therapists, and medical technologists, to healthcare providers throughout the U.S. MedPro's client base includes acute care hospitals, skilled nursing facilities, home health companies, outpatient centers, dialysis centers, and lab facilities. The Company employs a broad base of clinical professionals recruited from various countries around the world, providing both temporary travel staffing services as well as temporary-to-permanent staffing solutions. MedPro has grown rapidly by pioneering new service lines and innovating new and creative ways of sourcing and recruiting skilled medical professionals, allowing the Company to offer a highly differentiated and compelling value proposition to its customer base.

Harren Equity Partners is a Charlottesville, Virginia based private investment firm dedicated to the growth and development of industry-leading companies through the creation of strong partnerships with outstanding management teams. Harren’s unique approach focuses on operational excellence and insightful strategic analysis, rather than financial engineering. Harren focuses on investment opportunities in the lower middle market, defined as companies with $20 million to $200 million of annual revenue in a broad range of industries.

Brightwood Capital Advisors, LLC, headquartered in New York, NY, provides debt and equity capital solutions to US based companies with EBITDA of $5 million to $75 million. Brightwood provides capital solutions in five core areas: Technology & Telecommunications, Healthcare, Business Services, Transportation & Logistics and Franchising.”

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