Fifth Street Management said Monday that it provided $49 million in financing to support Moelis Capital Partners‘ buy of OmniSYS. Based in Dallas, OmniSYS provides medical claims reimbursement and compliance services for pharmacies and medical equipment suppliers.
GREENWICH, CT, Dec. 2, 2013 — Fifth Street Management LLC (“Fifth Street”) today announced that it has arranged a $47 million one-stop financing facility and a $2 million equity co-investment to support Moelis Capital Partners’ (“MCP”) acquisition of OmniSYS, LLC (“OmniSYS”). OmniSYS is a leader in medical claims reimbursement and compliance services for pharmacies and medical equipment providers. The facility consists of a $42 million term loan and a $5 million revolver led by Fifth Street Finance Corp. (NASDAQ:FSC), the transaction’s Administrative Agent, in conjunction with another business development company.
“Fifth Street demonstrated great flexibility throughout this transaction,” stated Andy Kieffer, a partner of Moelis Capital Partners, a New York-based private equity firm, adding, “Although the turnaround timeframe was very tight, Fifth Street was able to quickly grasp our vision for OmniSYS and deliver on its financing commitment as promised.”
“We are delighted MCP chose us to lead this deal,” noted Juan Alva, a partner of Fifth Street, adding, “We look forward to strengthening our relationship even further in the years ahead.”
About Fifth Street Management LLC
With over $3 billion in assets under management, Fifth Street Management LLC is a leading alternative asset manager and the SEC-registered investment adviser of two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR). With a track record of more than 15 years and offices across the country, Fifth Street’s nationally recognized platform provides custom-tailored financing solutions to small and mid-sized companies, primarily in connection with investments by private equity sponsors. Principally in the form of one-stop financings, first lien, second lien, mezzanine debt and equity co-investments, the Fifth Street platform has the ability to hold loans up to $150 million, commit up to $250 million and structure and syndicate transactions up to $500 million. Fifth Street’s website can be found at fifthstreetfinance.com.
About OmniSYS, LLC
OmniSYS, headquartered in Dallas, TX, offers a comprehensive product portfolio that streamlines medical claims management for Medicare, Medicaid and Commercial Insurance for pharmacies, HME/DME providers, managed care organizations and commercial retiree plans. OmniSYS’ proprietary billing system and comprehensive audit and compliance services are supported 24/7/365 by a world-class call center. OmniSYS exclusively offers a high touch patient prescription adherence program for Medicare beneficiaries, OmniLINK Advantage™, proven to increase adherence and improve medical outcomes. OmniSYS’ current programs support more than 35,000 Medicare Part B suppliers nationwide, processing over forty million Medicare claims annually. For more information, please visit omnisys-llc.com.
About Moelis Capital Partners
Moelis Capital Partners is a middle market private equity firm founded in 2007 in connection with the formation of Moelis & Company, a global investment bank. Moelis Capital Partners maintains approximately $850 million of committed private equity capital and specializes in traditional private equity investments in the middle market. For more information, please visit moeliscapital.com.