Daily News: September 4, 2012

US Capital Partners Secures $2MM Through Mesa Pharmacy Asset Sale


US Capital Partners, LLC has secured $2 million in financing through a successful sale of accounts receivable for Mesa Pharmacy, Inc., based in Irvine, CA.

“Mesa Pharmacy needed to retire existing senior debt and locate additional working capital for expansion and market entry,” said Ed Kurtz, chief operating officer at Mesa Pharmacy. “US Capital Partners assisted us in achieving these objectives by successfully securing $2 million in financing for the company through an asset sale.”

“We are delighted to have assisted this growing California pharmacy business,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “Mesa Pharmacy was locked in an inappropriate financing structure, which was hindering its growth. US Capital Partners successfully arranged $2 million for the company through a sale of its medical receivables within the California workers’ compensation industry. Our innovative and pragmatic underwriting solutions and our in-depth understanding of medical receivables was critical to closing.”

Headquartered in Irvine, CA, Mesa Pharmacy provides customized compounds for pain management, bio-identical hormone replacement therapy and a variety of other applications. Mesa Pharmacy is a wholly owned operating subsidiary of Pharmacy Development Corp., established in 2007 to develop an alternative to typical oral medication for pain management.

US Capital Partners is a private investment bank, direct lender and lead debt and equity financial participant and arranger that specializes in structuring and providing the best available financing for small to lower middle-market companies.