Aurora Diagnostics LLC, a Palm Beach Gardens, Fla.-based diagnostic lab and anatomic pathology company in registration for a $150 million IPO, has secured a $335 million credit facility from Barclays Bank. The loan is partially designed to retire other debt, and includes a $225 million senior secured term loan facility and a $110 million senior secured revolving credit facility.
The company reports $171 million in net 2009 revenue, compared to $159 million in 2008. Its 2009 net income was $9 million, down slightly from $10.7 million in 2008.
Aurora Diagnostics was formed in 2006 as an acquisition platform by Summit Partners and GSO Capital Partners. Last June, KRG Capital Partners acquired GSO’s interests in the company. Summit now holds a 51% ownership stake, with KRG holding a 34% position. The remainder is held by company management. www.auroradx.com