Daily News: March 8, 2016

CIT Agents $50MM Credit Facility for Superior Biologics


CIT Healthcare Finance served as sole lead arranger and administrative agent for a $50 million senior secured credit facility to Superior Biologics, a specialty pharmacy provider offering services to pediatric and adult populations suffering from chronic illnesses.

The facility will be used to refinance existing debt, provide general working capital and support a shareholder dividend. Financing was provided by CIT Bank, the principal bank subsidiary of CIT. Terms of the transaction were not disclosed.

“We differentiate ourselves from competitors through a high-touch clinical care model that addresses the unique medical, psychological and social needs of our patients. We deploy a multidisciplinary care team that creates specialized treatment programs tailored to each individual patient. This financing will help us continue to deliver excellent service to our patients while further strengthening our relationships with leading physicians and insurance providers,” said Mark Kovinsky, CEO of Superior Biologics,