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MidCap backs MTS buy of Celerion

MidCap Financial has provided $65 million in financing to support MTS Health Investors’ acquisition of Celerion. Celerion is a provider of clinical study solutions to pharmaceutical and biotechnology clients conducting early clinical research.

PRESS RELEASE

BETHESDA, MD, November 17, 2014 – MidCap Financial, LLC (“MidCap”), a leading commercial finance company focused exclusively on middle market companies nationwide, announced today that it served as Joint Lead Arranger, Joint Bookrunner and Syndication Agent for a $65.0 million senior secured credit facility in support of the acquisition of Celerion, Inc. (“Celerion” or the “Company”) by MTS Health Investors, LLC (“MTS”).

MidCap’s Leveraged Loan & Financial Sponsors team provides cash flow-based senior secured financing to support high quality, middle market companies across the United States. MTS, located in New York, is a healthcare private equity firm that makes investments in operating companies within services sectors of the healthcare industry. MTS targets profitable companies that deliver cost-effective services and have the ability to gain market share in industry segments that are typically large, growing, fragmented and poised for consolidation.

“We are very excited to support MTS’s acquisition of Celerion,” said Josh Rothenberg, Director at MidCap. “MTS is an ideal sponsor for Celerion given its track record and experience in the healthcare industry, and we believe Celerion is well positioned to continue its growth as a leader in early-stage clinical research, a market we view favorably.”

Formed in 2010 and based in Lincoln, Nebraska, Celerion provides early stage clinical research solutions to pharmaceutical, biotechnology and generic drug companies. The Company conducts and analyzes First-in-Human, clinical Proof-of-Concept, cardiovascular safety (TQT, robust QT), ADME and NDA- enabling clinical pharmacology studies. Celerion provides expertise on modeling and simulation, study design, medical writing (protocols and reports), clinical data sciences, biostatistics, and PK/PD analysis as well as small and large molecule bioanalytical assays through clinical drug development.

About MidCap Financial, LLC
MidCap Financial is a leading commercial finance firm that provides debt solutions to middle-market companies among a variety of industries, with a particular expertise in healthcare.

MidCap specializes in $5 million to $250 million loans. The company is headquartered in Bethesda, MD, with offices in Los Angeles and Chicago, and focuses in four areas:
· Leveraged loans to middle market companies backed by private equity sponsors;
· Life Sciences loans, primarily to early stage pharmaceutical, biotech, & medical device companies;
· Asset-Based working capital loans to healthcare providers collateralized by third-party accounts receivable and other assets; and
· Real Estate loans to senior housing, skilled nursing facilities, and medical office buildings.

Additional information about MidCap Financial can be found at www.midcapfinancial.com.