CIT Healthcare Finance served as joint lead arranger and joint bookrunner for a $275.3 million senior secured credit facility for Blue Wolf Capital Partners, a private equity firm that specializes in middle-market companies.

The financing will be used by Blue Wolf to invest in Great Lakes Caring Home Health and Hospice and refinance the existing debt of National Home Health (NHHC), an existing Blue Wolf portfolio company. Financing was provided by CIT Bank, the principal bank subsidiary of CIT.

This is the third transaction CIT has arranged for Blue Wolf.

The combination of Great Lakes Caring, a leading home health and hospice business in the Midwest, with NHHC, a leading home care service company with operations in the Northeast, will form one of the largest providers of home health and hospice services in the U.S.

William Douglass, group head and managing director, CIT Healthcare Finance, said, “This transaction is reflective of CIT’s deep expertise within the home health and hospice sectors and our commitment to providing capital to our clients for continued growth. We are happy to be a strategic partner to Blue Wolf and look forward to continuing our relationship with both Great Lakes and NHHC.”

Adam Blumenthal, managing partner of Blue Wolf, said, “The aging U.S. population and the move to lower cost settings in health care will continue to drive the overall demand for home health services. Our investment in Great Lakes Caring and NHHC positions the company for expanded service offerings across a wider footprint and affords the benefits of scale and operational efficiencies that enable us to better serve our patient populations. CIT has been a strong partner for Blue Wolf, and we look forward to working with them as we continue to pursue our growth strategy.”