GE Capital Provides $320MM Facility to Diplomat Pharmacy
GE Capital, Healthcare Financial Services (HFS) announced it provided a $320 million senior secured credit facility to Diplomat Pharmacy. GE Capital Markets was lead arranger and bookrunner on the transaction.
A portion of the funds was used to acquire BioRx, a Cincinnati, OH-based highly specialized pharmacy and infusion services company that provides treatments for patients with ultra-orphan and rare, chronic diseases. The remainder of the funds will be available for working capital and other general corporate purposes.
“We’re pleased to have successfully completed this latest financing for Diplomat,” said David Varhol, managing director of GE Capital, Healthcare Financial Services’ corporate finance team. “We’re seeing continued rapid growth and consolidation within the specialty pharmacy industry, particularly in the specialty infusion space. This acquisition helps expand Diplomat’s presence in specialty infusion while it continues its rapid organic growth.”