Monroe Capital said Wednesday it provided A $14.5 million loan to support BelHealth Investment Partners LLC’s recap of Precision Toxicology LLC. San Diego-based Precision Toxicology is a clinical laboratory that specializes in providing quantitative drug testing, primarily for the purpose of helping physicians monitor their patients undergoing treatment for pain or substance abuse.
CHICAGO–(BUSINESS WIRE)–Monroe Capital LLC today announced it acted as sole lead arranger and administrative agent on the funding of a $14.5 million senior credit facility to support the recapitalization and growth of Precision Toxicology, LLC by private equity sponsor, BelHealth Investment Partners, LLC.
Based in San Diego, California, Precision Toxicology is a clinical laboratory that specializes in providing quantitative drug testing, primarily for the purpose of helping physicians monitor their patients undergoing treatment for pain or substance abuse. Precision’s objective is to improve patient adherence and compliance with their prescription regimen and protect medical practices from liability. The company’s services help clients by monitoring appropriate use or identifying abuse of prescription drugs.
“We are pleased to partner with Monroe Capital on this transaction,” said Dave Sturek, Managing Director of BelHealth. “Their group is highly experienced in the healthcare industry and we look forward to working with them to help Precision Toxicology continue its strong growth trajectory and become a national competitor in the clinical diagnostic segment.”
Ken Whitfield, Precision’s CFO, added, “The new credit facility will provide us with increased flexibility as we continue to expand our customer base, increase our volumes and improve our technology. Our management team is excited to partner with Monroe through our next growth phase.”
About Monroe Capital
Monroe Capital LLC is a leading provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors. Monroe has been recognized by Global M&A Network as the 2013 and 2014 Small Mid Market Lender of the Year and by Private Debt Investor as the 2013 Unitranche Lender of the Year and 2014 Senior Lender of the Year. To learn more about Monroe Capital LLC, visit www.monroecap.com.
About BelHealth Investment Partners
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth acquires majority positions in entrepreneur-owned companies we believe would benefit from our vast operating and private equity experience. The firm typically invests $20- 40 million per platform company across four healthcare segments: Services, Products, Distribution and Information Technology. Applying an active, hands-on approach, BelHealth utilizes its experience to support management to drive revenue, profit growth and achieve superior returns for our investors and partners. For more information, visit www.belhealth.com.