Zions Bank has joined in the senior financing to SCI Solutions. MidCap Financial continues to act as sole bookrunner, sole lead arranger, and administrative agent in the senior secured credit facilities of SCI Solutions, a portfolio company of The Wicks Group of Companies (The Wicks Group) and New Enterprise Associates (NEA).
MidCap Financial LLC (“MidCap”), the nation’s leading commercial finance company focused exclusively on middle market healthcare companies, announced today that Zions Bank has joined in the senior financing to SCI Solutions. MidCap Financial continues to act as Sole Bookrunner, Sole Lead Arranger, and Administrative Agent in the senior secured credit facilities in support of SCI Solutions (“SCI”), a portfolio company of The Wicks Group of Companies, L.L.C. (“The Wicks Group”) and New Enterprise Associates (“NEA”).
MidCap’s Leveraged Loan team provides cash flow-based senior secured financing to support investments made by private equity sponsors in high quality, middle-market companies across the United States. The Wicks Group is a New York-based private equity firm that invests in selected segments of the information, education, and media industries. NEA, a leading venture capital firm with approximately $11 billion in committed capital, invests in information technology, healthcare, and energy technology companies.
SCI provides hospitals with web-based access management products and related support services that facilitate a hospital patient’s pre-encounter process, including the management of physician referrals and appointment scheduling, and align financial reimbursement for healthcare services with clinical appropriateness and regulatory compliance. SCI serves a growing client base of approximately 450 hospitals and 30,000 physicians nationwide. In addition to creating an outstanding service experience for the patient, SCI’s products improve the measurability of business outcomes for a hospital’s clinical departments, financial executives, and physicians. SCI was founded in 1999 and is headquartered in Campbell, CA.
About MidCap Financial, LLC
MidCap Financial is a commercial finance company focused on middle market lending in the broad national healthcare industry. MidCap specializes in $5 million to $200 million loans. The company is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles and focuses in four areas:
Asset-Based working capital loans to healthcare providers collateralized by third-party accounts receivable and other assets;
Leveraged loans to healthcare companies backed by private equity sponsors;
Life Sciences loans to VC-backed and public pharmaceutical, biotech and medical device companies;
Real Estate loans to skilled nursing facilities, senior housing properties and medical office buildings