NXT backs EyeCare Services refinancing

NXT Capital said April 14 it provided $61 million in loans to back Varsity Healthcare Partners’ refinancing of its portfolio company, EyeCare Services Partners. Towson, Maryland-based EyeCare consolidates locally dominant, clinically differentiated eyecare services practices and affiliated surgical centers in selected geographies.

PRESS RELEASE

Chicago, Illinois, April 14, 2016 – NXT Capital (www.nxtcapital.com) announced that it has provided a $61 million senior secured credit facility to support the refinancing of EyeCare Services Partners, a portfolio company of Varsity Healthcare Partners. The transaction included funding for selected add-on acquisitions at closing of the facility, plus growth capital to support ESP’s acquisition pipeline.

NXT Capital acted as the Sole Lead Arranger, Administrative Agent, and Sole Bookrunner for this transaction.

“We are pleased to work with the NXT Capital healthcare team again,” said David Alpern, Partner and co-founder of Varsity Healthcare Partners. “NXT brought differentiated flexibility and substantial growth capital to the EyeCare Services Partners financing that will enable ESP to achieve its strategic objectives.”

EyeCare Services Partners (www.espmgmt.com) consolidates locally dominant, clinically differentiated eyecare services practices and affiliated surgical centers in selected geographies. Headquartered in Towson, Maryland, ESP’s practices benefit from a world-class managerial infrastructure, including leading-edge practice management technology and centralization of all core operational functions, so that clinicians are able to focus their time and energy on patient care at the local level.

Varsity Healthcare Partners (www.varsityhealthcarepartners.com) is a private investment firm serving primarily family investors by originating, acquiring and growing market-leading healthcare platforms. The principals of VHP bring extensive healthcare domain expertise and relationships and dedicate substantial time and resources to each platform investment. The firm is based in Los Angeles, California and Stamford, Connecticut.

NXT Capital provides structured financing solutions through its Corporate Finance, Equipment Finance and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Charlotte, Dallas, Los Angeles, Nashville, New York, Phoenix, San Francisco and Stamford. See www.nxtcapital.com for more information.
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