Daily News: November 7, 2013

GE Capital HFS Provides $7.5MM Facility to BENU

GE Capital, Healthcare Financial Services, said it is serving as administrative agent and sole lender on a $7.5 million senior secured multi-draw term loan for BENU. The loan refinances current debt and will support the company’s growth initiatives.

“GE Capital knows the healthcare IT industry well and worked closely with us from the start to understand our business objectives,” said Jeff Closs, CEO of BENU. “They offered us the best solution, providing flexibility and capital to meet our growth goals.”

“Healthcare IT companies benefit from working with a lender who understands the challenges and opportunities these companies face in such a quickly evolving market,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “We look forward to working with BENU as they execute their growth strategy.”

Based in Silicon Valley, CA, BENU is a healthcare IT company providing private healthcare exchanges and SaaS cloud-based, comprehensive human capital management by combining HR, benefits and payroll on a single, unified platform, to U.S. employers.