Golub Capital said Monday that it has provided a $67 million loan to PreCision Dermatology. The capital will be used to refinance PreCision Dermatology. Based in Cumberland, RI, PreCision Dermatology is a provider of skincare therapies. It is backed by Essex Woodlands Health Ventures, Frazier Healthcare Ventures, Longitude Capital Partners, Boston Millennia Partners, Novaquest Capital Management and Quaker Bioventures.
CHICAGO, Sept. 23, 2013 /PRNewswire/ — Golub Capital announced today that as Sole Bookrunner and Administrative Agent it provided a $67 million GOLD financing to support the refinancing of PreCision Dermatology, Inc., backed by a syndicate of private equity sponsors including Essex Woodlands Health Ventures, Frazier Healthcare Ventures, Longitude Capital Partners, Boston Millennia Partners, Novaquest Capital Management, and Quaker Bioventures. GOLD financings are Golub Capital’s One-Loan Debt facilities.
Headquartered in Cumberland, RI, PreCision Dermatology is a fully-integrated dermatology company with a mission to deliver innovative therapies to physicians and patients that demonstrably improve the skin. PreCision Dermatology is rapidly expanding through internally generated innovation, acquisitions, in-licensing, and co-marketing opportunities.
“PreCision Dermatology represents a solid growth platform in the pharmaceutical sector, backed by a blue chip sponsor group and led by an experienced management team. The Golub Capital Healthcare Finance team is excited to invest again in the pharmaceutical space and to provide a financing solution that will support the Company’s long-term growth and strategic initiatives,” said Stefano Robertson, Managing Director at Golub Capital.
“Golub Capital’s Healthcare Finance team invested the time to develop a deep understanding of our business and structured the right solution to achieve our goals. We look forward to growing together,” said PreCision Dermatology’s Chief Operating Officer Robert Moccia.
About Golub Capital
With over $8 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary MiniGOLD, GOLD, and MegaGOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior credit facilities up to $300 million. Golub Capital’s hold sizes range up to $250 million per transaction.
Golub Capital has been a top 3 Traditional Middle Market Bookrunner each year from 2008 through 2Q 2013 for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals). Year to date, Golub Capital has been awarded Finance Monthly’s Global Awards 2013 “Credit Asset Manager of the Year,” and DealMakers M&A Awards 2013 “Middle Market Lender of the Year.” Golub Capital is a national firm with principal offices in Chicago and New York. For more information, please visit the firm’s website at www.golubcapital.com.