Audax Private Debt and Adams Street Partners provided a senior secured credit facility to support US Med-Equip’s acquisition of Freedom Medical, a provider of rental medical equipment and related outsourced support services to hospitals and long-term care centers throughout the United States. Audax Private Debt served as administrative agent and joint lead arranger for the facility and Adams Street Partners served as joint lead arranger.
Houston-headquartered US Med-Equip partners with hospitals for the rental, sales, service and asset management of movable medical equipment, including diagnostic and clinical devices ranging from infant incubators to ventilators and more. US Med-Equip is a portfolio company of private equity firm Freeman Spogli.
“As a record number of hospitals turn to suppliers for life-saving equipment, US Med-Equip will be well-positioned to capitalize on future growth opportunities with the addition of Freedom Medical,” Remington Chin, managing director at Audax Private Debt, said. “We are pleased to partner with management and Freeman Spogli in this exciting next chapter.”
“We have been impressed by USME’s strong growth and addition of new services and geographies under Freeman Spogli’s ownership,” Nolan Pauker, principal at Adams Street Private Credit, said. “We are excited to continue to support management and Freeman Spogli as USME expands its offerings.”
“Audax Private Debt and Adams Street Partners led the structuring and execution of a tailored financing solution that will support the company’s continued growth as a leading distributor of medical equipment,” Christian Johnson, a partner at Freeman Spogli, said. “We appreciate the Audax and Adams Street team’s partnership and look forward to working together as we continue to build on USME’s strong momentum.”