ABILITY Network closed a debt issuance totaling $545 million. Proceeds will be used to replace existing debt at lower rates and extended maturities, fund cash to the balance sheet for growth and pay a dividend to shareholders

The new debt financing, along with ABILITY’s strong performance, returns leverage ratios to the same level as when Summit Partners and Bain Capital Ventures invested in ABILITY in 2014.

“This financing enables us to execute on our balanced approach to capital stewardship: investing in the growth of our customers and employees, offering new products to help providers and returning capital to our shareholders,” said Mark A. Pulido, chairman and CEO of ABILITY. “ABILITY will continue to pursue a disciplined growth strategy of increasing its provider network, building new applications and enhancing applications from acquired companies.”

Jefferies Finance, Macquarie Capital (U.S.) and Nomura Security International served as joint lead arrangers and joint book runners for ABILITY. Ropes & Gray served as legal counsel.

Minneapolis-based ABILITY provides applications and analytics that are integral in helping with revenue cycle management, care quality management and performance improvement via a cloud-based, SaaS platform.