Daily News: August 16, 2019

CIT Arranges $60MM Facility for Partners Pharmacy


CIT Group’s Healthcare Finance unit has served as sole lead arranger on a $60 million senior secured credit facility to Partners Pharmacy.

Headquartered in Springfield, NJ, Partners Pharmacy is a provider of pharmacy and infusion services to the senior living facilities, including skilled-nursing facilities, assisted-living facilities, independent living communities, and memory-care facilities.

The proceeds will be used to refinance an existing credit facility and to provide working capital.

“CIT worked closely with us to develop a creative financing strategy to support our strategic growth objectives and continued investment in cutting-edge technology,” said Thomas A. McKinney, executive vice president and general counsel, of Partners Pharmacy. “We look forward to our continued growth and success.”