Daily News: April 4, 2012

GE Capital Agents $193MM Senior Credit Facility for DSI Renal


GE Capital, Healthcare Financial Services announced that it is administrative agent on $193 million in senior secured credit facilities for DSI Renal. The financing supports DSI’s acquisition of 54 dialysis clinics from Fresenius Medical Care and makes DSI the fourth largest for-profit provider of dialysis services in the country. GE Capital Markets served as joint lead arranger and joint bookrunner on the facilities.

Headquartered in Nashville, TN, DSI Renal is a provider of dialysis services to patients suffering from chronic kidney failure, also referred to as end-stage renal disease. As owners and operators of 85 dialysis clinics in 23 states, DSI Renal offers state-of-the-art treatment with personalized care.

“Our management team has a long history with GE Capital’s Healthcare Financial Services business. They are healthcare lending experts with a keen understanding of the dialysis space, so they were able to provide a financing solution tailored to our needs,” said Robert Lefton, executive chairman of DSI Renal.

Brian Morfitt, a partner with Frazier Healthcare Ventures, the lead private equity firm within the group that owns DSI Renal, added: “GE Capital, Healthcare Financial Services was integral to this deal from the beginning. They brought more than just money to the table; their industry knowledge, structuring expertise and leadership in the transaction’s execution were all crucial to a smooth and timely closing.”

“We bring in-depth knowledge of both finance and healthcare to provide optimal financing solutions. We have worked with Bob Lefton and his team for nine years, and are strong believers in their ability to deliver. We were able to structure a loan to meet DSI’s unique needs and help them execute their growth strategy,” said Darren Alcus, president and chief executive officer, GE Capital, Healthcare Financial Services.

Previously on abfjournal.com:

Golub Capital Provided $27.5MM to DSI Renal for Acquisition, Monday, April 02, 2012