Citizens Commercial Banking is leading a credit facility for the acquisition of medical device services provider MedPlast by Water Street Healthcare Partners and JLL Partners. Citizens is left lead arranger and administrative agent.
Tempe, AZ-based MedPlast offers a range of engineering and manufacturing capabilities that support the production of diagnostic, orthopedic, surgical and other medical products by leading manufacturers.
“We’re very happy to be able to help the team achieve their strategic and financial goals,” said Doug Cornett, managing director for healthcare at Citizens Commercial Banking. “Raising capital and leading these types of deals is just one of the ways that Citizens delivers value for clients at every stage of their business life cycle.”