Capital One Healthcare’s Corporate Finance group was the No. 1 lead arranger of healthcare leveraged loans by deal count for transactions up to $1 billion for the first half of 2019, according to league tables produced with data from Thomson Reuter

The team closed 12 total transactions.

“The U.S. healthcare market continues to provide a wide array of opportunities for healthcare companies and investors,” said Al Aria, senior managing director, Capital One Healthcare. “Our team remains deeply committed to supporting their efforts.”

“M&A loan activity is down from last year, driven in part from high valuations,” said Aria. “However, the supply side has moderated with CLO issuance in line with last year. Deals are getting done on very aggressive terms and pricing, and the middle market in particular continues to be competitive as investors look to put money to work with fewer opportunities.”

Noteworthy transactions include:

  • $265 million senior secured credit facility for Surgical Specialties Corporation. The credit facility allowed Surgical Specialties to refinance existing debt at competitive pricing, provided greater flexibility for growth initiatives, and broadened the company’s following in the loan market. Capital One served as the administrative agent, joint lead arranger, and joint bookrunner.
  • $425 million senior secured credit facility for R1 RCM Inc., a publicly traded provider of technology-enabled revenue cycle management services across hospitals, health systems and physician groups. R1 RCM is a portfolio investment of TowerBrook Capital Partners. Capital One Healthcare served as joint lead arranger and co-syndication agent.