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GE Capital, Others Provide Financing in Harvest Partners’ Acquisition of AxelaCare

April 16, 2013, 07:18 AM
Filed Under: Healthcare

Harvest Partners, a New York-based private equity firm, and the management team of AxelaCare Holdings, Inc. have completed the acquisition of the company from Excellere Partners, a Denver, CO-based private equity firm. Terms of the transaction were not disclosed.

Senior debt was arranged by GE Capital, Ares Capital Corporation and BMO Capital Markets. Oaktree Capital Management and Northwestern Mutual Capital provided mezzanine debt financing. Jefferies and White & Case LLP advised Harvest. Houlihan Lokey and Greenberg Traurig LLP advised the company.

Based in Lenexa, KS, AxelaCare is a full-service home infusion therapy provider. Therapies provided range from immune globulin (IG) therapy to antibiotics and nutrition therapy for patients across the United States. The company also provides real value to practitioners, insurers and manufacturers through its proprietary outcomes management technology called CareLogix that monitors and measures the efficacy of IG therapy based on real-time outcomes and therapy response data.

AxelaCare's management team, including CEO Ted Kramm and President Kathee Kramm, will continue to lead the company.

“Healthcare is a key area of interest for Harvest and we have been impressed by AxelaCare’s rapid rise to become the fifth largest provider of IG therapy in the U.S. in just four years," said Ira Kleinman, senior managing director at Harvest Partners. “The company’s investment in processes, technology and people has led to an efficient, scalable model with opportunity for continued growth as a larger share of the population seeks access to these vital services."
Ira D. Kleinman (senior managing director), Jay Wilkins (managing director) and Paige Daly (principal) of Harvest will be joining AxelaCare's Board of Directors.

Founded in 2008, AxelaCare is a high-growth technology-enabled provider of home infusion services for chronic and acute conditions.

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