Comvest Credit Partners, a provider of flexible direct financing solutions to middle-market companies, acted as joint lead arranger on a senior secured credit facility for Cardiovascular Logistics, a national cardiovascular services platform. The financing supported the formation of the company by private equity firm Lee Equity Partners through the acquisition of Cardiovascular Institute of the South (CIS), an independent cardiovascular practice. The financing will also support the platform’s organic and inorganic growth.
Founded in 1983, CIS operates 21 locations in Louisiana and Mississippi. CIS offers a comprehensive heart and vascular program across numerous specialties, including internal medicine, nuclear cardiology, electrophysiology, coronary artery disease, peripheral vascular disease and interventional procedures.
“Cardiovascular Logistics is an attractive physician practice management platform benefitting from favorable industry and demand dynamics as well as CIS’s history of clinical excellence. Comvest is excited to support Lee Equity Partners’ objective of growing the platform into the nation’s leading outpatient cardiovascular provider,” Bryce Peterson, a managing director at Comvest and co-head of the healthcare group, said. “Comvest leveraged our deep firm expertise investing in other leading physician practice management platforms in adjacent healthcare specialties. We structured a significant and highly flexible financing solution to support Lee Equity Partners’ initial acquisition and provide committed ongoing capital to support the company in building a network of cardiology practices.”
“Comvest is excited to work with Lee Equity Partners on another meaningful transaction involving a leading multi-site healthcare provider,” Tom Goila, a partner of Comvest and co-head of the healthcare group, said. “We look forward to further building our relationship with the Lee Equity Partners team and to supporting Cardiovascular Logistics as the company continues to scale its footprint, practices, care teams and technologies.”
