Babson Capital said Thursday it has provided $12.15 million of mezz debt and $1 million equity for Linden Capital’s investment in Strata Pathology Services. Strata, of Lexington, Mass., offers anatomic pathology services in the dermatology, urology, podiatry, oral pathology, gastroenterology and gynecology segments.
Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., today announced it provided $12.15 million of mezzanine debt financing and $1 million of equity for Linden Capital Partners’ investment in Strata Pathology Services, Inc.
Headquartered in Lexington, Mass., Strata offers anatomic pathology services in the dermatology, urology, podiatry, oral pathology, gastroenterology and gynecology segments. Since 1984, the company has developed proprietary knowledge, expertise and strong client relationships, and has established itself as a thought leader in the dermatopathology space. Strata currently serves clients in more than 40 states and has recently added a number of international customers.
“Babson Capital’s thorough understanding of the healthcare sector and ability to execute quickly makes them a value-added partner, and that is why we have such a longstanding relationship with them,” said Brian Miller, Managing Partner at Linden Capital Partners.
“We are excited to help Linden Capital Partners expand its portfolio into the anatomic pathology industry,” said Mike Klofas, managing director and co-head of the Mezzanine and Private Equity Group at Babson Capital.
About Babson Capital
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $135.6 billion in assets under management as of June 30, 2011. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn., and Wood Creek Capital Management, LLC in New Haven, Conn. Babson Capital is a member of the MassMutual Financial Group and is on the web at www.BabsonCapital.com.
About Linden Capital Partners
Linden is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life science industries. Linden’s investment strategy is based upon three elements: i) healthcare and life science industry specialization; ii) integrated private equity and operating expertise; and iii) strategic relationships with large corporations. Linden currently manages $575 million in capital.