Corus Orthodontists, a North American orthodontic partnership network, extended its secured syndicated credit facility provided through a syndicate of Canadian and U.S. lenders. The Canadian Imperial Bank of Commerce (CIBC) acted as sole lead arranger and administrative agent with Scotiabank and ATB Financial serving as co-documentation agents.
The facility increases Corus’ access to capital from C$175 million to C$250 million, with an uncommitted accordion that allows for expansion up to C$325 million. The credit facility, originally set to expire in December 2025, has been extended 3.5 years to December 2028.
“This extension and expansion underscores our focus on organic and inorganic profitability and maintaining a strong balance sheet,” Peter Bishop, chief financial officer of Corus Orthodontists, said. “We appreciate the ongoing support from our lending partners as we continue scaling our network of orthodontic partnerships across North America.”
“With this expansion and Corus’ existing cash reserves, the Company now has access to more than C$100 million in available capital for acquisitions,” Dean Prevost, CEO of Corus Orthodontists, said. “We’re excited to welcome new Doctor-Partners into the Corus community, those who bring clinical excellence, entrepreneurial energy, and a desire to help shape the future of the specialty. With a solid foundation in place, we’re well-positioned to continue expanding and strengthening our unique doctor-led model across North America.”
