Antares closed more than 35 healthcare industry transactions year-to-date, bringing total commitments to healthcare borrowers to more than $3.5 billion.
Throughout 2019 Antares has supported the refinancing and growth initiatives of existing borrowers while also closing transactions with 18 new borrowers.
Since reentering the healthcare lending market in August 2015 under new ownership, Antares has grown its healthcare portfolio to 84 borrowers across more than 50 private equity sponsors.
“We have a longstanding commitment to the healthcare industry,” said Daniel Barry, senior managing director for Antares. “That translates into a keen understanding of the challenges and opportunities transforming the industry from a business model, technological and cultural perspective. It also allows us to evaluate transactions and commit quickly, ultimately delivering the liquidity and flexibility our borrowers rely on to meet their growth objectives.”
Select 2019 transactions in which Antares served as administrative agent and lead left arranger include:
- 1st lien credit facility to Aspen Medical Products (Cortec Group)
- 1st lien credit facility to Aspen Surgical (Audax Group)
- Unitranche facility to Comprehensive Pharmacy Services (Frazier Healthcare Partners)
- 1st lien credit facility to Cold Chain Technologies (Aurora Capital Partners)
- 1st lien credit facility to Gelest (New Mountain Capital)
- 1st lien credit facility to Orthopaedic & Neurosurgery Specialists (Kohlberg )
- Unitranche facility to Sightpath Medical (Charlesbank Capital Partners)
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“As private equity investment in the sector remains high, the number of opportunities we’re reviewing for potential investment has increased nearly 20 percent year to date,” said Barry. “We expect this robust level of activity to continue, and we look forward to utilizing the in-depth knowledge of our industry experts to support the needs of our private equity healthcare sponsors and borrowers.”
