MidCap Extends Credit Facilities to $900M Plus

MidCap Financial, a commercial finance company backed by Genstar Capital, Lee Equity Partners, and Moelis Capital Partners, has extended and renegotiated its four primary credit facilities to now exceed $900 million. The company launched in September 2008, and focuses on middle market healthcare finance. The company is based in Bethesda, Maryland.


MIDCAP FINANCIAL, LLC, the nation’s leading commercial finance company focused exclusively on middle market healthcare companies, announced today that it has favorably renegotiated and/or extended its four primary credit facilities with improved structures and reduced pricing. MidCap’s total debt financing capacity, including its SBIC subsidiary, now exceeds $900 Million. Adding MidCap’s equity capital commitments brings its total committed capital to over $1.4 Billion.
Since launching in September 2008, MidCap has quickly become the leader in middle market healthcare finance, having closed more than 85 senior financing transactions representing more than $1.1 Billion in loan commitments to participants in the middle market healthcare industry. In the first half of 2011 alone, MidCap closed 30 transactions totaling more than $375 Million in loan commitments.
David Moore, MidCap’s CFO, commented, “We are thrilled that our lending partners continue to support our business by showing faith in our credit standards, our markets, and our team. The changes they approved in our credit facilities and the extension of their maturity dates will allow us to continue building a solid loan portfolio. In addition, we are pleased to add four more institutions to our stable of lenders, bringing our total credit partners to twelve.”
“The upsizing and improved structure and pricing of our credit facilities represents another milestone for us as we capitalize on favorable market conditions to continue pressing our advantage. Exceeding $1.1 Billion in loan commitments gives MidCap a strong market position from which to deliver the credit support our growing portfolio of healthcare companies needs,” added Howard Widra, MidCap’s CEO.
About MidCap Financial, LLC
MidCap Financial is a commercial finance company focused on middle market lending in the broad national healthcare industry. MidCap specializes in $5 million to $200 million loans. The company is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles, and focuses in four areas:
-Working Capital loans to healthcare providers collateralized by third-party accounts receivable and other assets;
-Life Sciences loans, primarily to pharmaceutical, biotech, and medical device companies;
-Real Estate loans to senior housing, skilled nursing facilities, and medical office buildings; and
-Leveraged loans to healthcare companies backed by private equity sponsors.