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Penfund invests $37 mln in J.H. Whitney’s PSA Healthcare

Penfund has made a US$37 million second lien debt and equity investment in Pediatric Services Holding Corp, the parent company of Pediatric Services of America Inc, also known as PSA Healthcare. PSA Healthcare, which is based in Atlanta, Georgia, is primarily focused on providing home nursing services to medically fragile children in the United States. The company was earlier this month acquired by U.S. private equity firm J.H. Whitney Capital Partners for an undisclosed amount. Headquartered in Toronto, Penfund provides junior capital to middle market companies across North America.


Penfund Announces Investment in Pediatric Services of America

TORONTO, ONTARIO–(Marketwired – March 24, 2015) – Penfund, an independent provider of junior capital to middle market companies located in the United States and Canada, announced today the completion of a U.S. $37 million 2nd lien debt and equity investment in Pediatric Services Holding Corporation, the parent company of Pediatric Services of America, Inc., known as PSA Healthcare (“PSA”). PSA is a recently-acquired portfolio company of J.H. Whitney Capital Partners LLC (“J.H. Whitney”).

Headquartered in Atlanta, Georgia, PSA predominantly provides critically-needed home nursing services to medically fragile children. The company operates through over 65 offices across 17 states, employs over 5,000 nurses and other caregivers, and provides care to more than 2,500 patients.

John Bradlow, a partner at Penfund, stated “We are delighted to support J.H. Whitney in their acquisition of PSA. We believe the acquisition will allow PSA to continue delivering best in class clinical care to the families who need its services.”

About PSA Healthcare
PSA is a national home healthcare company managed predominantly by clinicians. PSA’s services provide care for medically fragile individuals of all ages in the comfort of their homes. PSA has more than 5,000 skilled caregivers, providing professional, high quality, private duty nursing to patients in over 65 locations serving 17 states.

About J.H. Whitney
J.H. Whitney was established in 1946 by the industrialist and philanthropist, John Hay “Jock” Whitney. J.H. Whitney was one of the first U.S. private equity firms and is often credited with pioneering the development of the private equity industry. Today, J.H. Whitney remains privately owned by its investing professionals and focuses on providing private equity capital to small and middle market companies with strong growth prospects in a number of industries including consumer, healthcare, specialty manufacturing and business services.

About Penfund
Penfund is a leading North American private equity firm specializing in providing junior capital to middle market companies throughout North America. Penfund provides second lien, high yield, mezzanine and unitranche debt, control and minority equity, as well as bridge facilities, standby lines, underwritten facilities and financial guarantees. The firm is owned by its management team and is currently investing its most recently established fund, Penfund Capital Fund IV which has $460 million of committed capital. Penfund manages institutional funds sourced from North American pension funds, insurance companies, family offices and banks and has invested more than $2.5 billion in over 220 companies since its establishment in 1979.

Contact Information
(416) 645-3799

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