Varagon Capital Partners has provided a credit facility to back Morgan Stanley Capital Partners’ acquisition of SpendMend, a Grand Rapids, Michigan-based provider of cost-cycle solutions and analytics to hospitals and hospital systems. No financial terms were disclosed. Varagon was administrative agent, lead arranger and bookrunner on the financing.
New York, NY, March 3, 2022 – Varagon Capital Partners, L.P. (Varagon) today announced it is serving as Administrative Agent, Lead Arranger and Bookrunner on a senior secured credit facility to support the acquisition of SpendMend by investment funds managed by Morgan Stanley Capital Partners (MSCP).
Headquartered in Grand Rapids, MI, SpendMend is the leading provider of cost-cycle solutions and analytics to hospitals and hospital systems. SpendMend delivers technology-enabled visibility, insight, containment, and optimization into the cost-cycle to help providers manage operating margins and reduce risk in a constantly evolving environment.