The middle market financing firm Golub Capital has provided a $25 million second lien term loan to support the acquisition of SourceMedical Solutions by the private equity firm ABRY Partners. SourceMedical provides outpatient information and revenue cycle management services for ambulatory surgery centers, specialty hospitals, and rehabilitation clinics nationwide.
Golub Capital announced today that as Sole Lead Arranger and Administrative Agent it provided a $25 million second lien term loan to support the acquisition of SourceMedical Solutions, Inc. (“SourceMedical” or the “Company”) by ABRY Partners (“ABRY”).
SourceMedical is the largest provider of outpatient information solutions and revenue cycle management services for ambulatory surgery centers, specialty hospitals, and rehabilitation clinics nationwide. With 31 years of real-world experience, more than 5,200 customers, and the confidence of more than 250 consultants and management companies, SourceMedical offers the broadest range of solutions and enhancements available to the industry. The company’s unique end-to-end systems improve operational efficiency and cash flow while enabling healthcare facilities to capture, exchange, and analyze data to deliver a higher standard of patient care.
“We are excited to add a high caliber borrower like SourceMedical to our software portfolio,” stated Spyro Alexopoulos, a Managing Director at Golub Capital. “Further, we are thrilled to back ABRY in our first deal together and look forward to doing more with them. We have great confidence that ABRY is the right partner to lead the Company through its next phase of growth.”
Timothy Nickel, Principal at ABRY, commented, “Golub Capital distinguished itself to lead the financing by quickly understanding the business and working efficiently toward the finish line. Golub Capital was partner-oriented throughout the process and we look forward to doing more business with them in the near future.”
About ABRY Partners
Founded in 1989, ABRY is one of the most experienced and successful healthcare services, media, communications, and business information services sector-focused private equity investment firms in North America. ABRY has completed over $36 billion of transactions, representing investments in more than 450 properties. The firm is currently managing over $3.5 billion of total capital and investing out of a $1.6 billion private equity fund, $750 million senior equity/mezzanine fund and a $1.2 billion senior debt fund.
About Golub Capital
With over $6 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD and MEGA GOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior credit facilities up to $250 million. Golub Capital’s hold sizes range up to $200 million per transaction.
Golub Capital has been a top 3 Traditional Middle Market Bookrunner each year from 2008 through 1H 2012 for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals). In 2012, Golub Capital was awarded the ACG New York Champion’s Award for “Senior Lender Firm of the Year.” Golub Capital is a national firm with principal offices in Chicago and New York. For more information, please visit the firm’s website at www.golubcapital.com.