CIT’s healthcare finance group, part of the company’s commercial finance division, arranged a $75 million senior secured asset-based credit facility for One Call Corporation, a Jacksonville, FL-based service provider to the workers’ compensation industry.
One Call provides ancillary services to the workers’ compensation industry by connecting injured workers with provider networks across healthcare services.
The asset-based credit facility was provided to a newly created entity of One Call, which is owned by global investment firms KKR, Blackstone Credit and Chatham Asset Management. The facility will be used for general corporate purposes and ongoing business development.
“This new credit facility further strengthens what was already a very strong liquidity position and provides us additional financial flexibility as we continue our mission of getting injured workers the care they need when they need it,” Fred Pensotti, CFO of One Call, said. “We appreciated CIT’s expertise in the healthcare industry and its agility in arranging this financing.”
“One Call is a recognized leader in providing exceptional service and clinical expertise to the workers’ compensation industry,” William Douglass, managing director and group head for CIT’s healthcare finance business, said. “We listened closely to One Call’s needs and were pleased to develop financing to support their ongoing business operations and growth objectives.”
In connection with the financing, CIT also provided treasury management and capital markets services.