Daily News: November 13, 2012

Monroe Capital Launches MC Healthcare Finance

Monroe Capital LLC announced it is launching a new healthcare finance company to assist lower middle-market healthcare companies in meeting their liquidity needs to fund working capital, growth initiatives, expansion, and refinance existing debt.

The new firm, MC Healthcare Finance (MC Healthcare), will provide short-term, asset-based funding for healthcare companies located throughout the United States.

MC Healthcare will be led by James Irwin, the former founder of Meridian Healthcare Finance, and Terry Cady, a founder of three specialized healthcare asset-based lending firms, each having more than 30 years of corporate finance experience. In addition, the firm will rely on the vast experience and extensive healthcare industry relationships of Monroe Capital and its senior middle-market banking team to assist borrowers as they struggle to find solutions to growing liquidity needs in the current marketplace. Together they have a proven track record of structuring and executing hundreds of financings, investing more than $5 billion across a wide range of industries.

Ted Koenig, president of Monroe Capital, said, “Sweeping changes in the healthcare industry and volatile credit markets have combined to create the perfect storm for our nation’s middle-market healthcare companies. Obamacare will provide many challenges to grass roots providers of healthcare services and those companies that provide goods and services to them. Through MC Healthcare, we will provide these companies with a complete range of value-added ABL credit solutions to meet their financing needs and successfully navigate today’s challenging economic environment.”

MC Healthcare will finance all segments of the healthcare industry, including hospitals, nursing homes, home health service providers, durable medical equipment manufacturers, pharmaceutical laboratories, laboratory testing companies, physician practices, psychological and substance abuse facilities. It will provide loans of $1 to $10 million but can arrange and participate in larger transactions, as necessary.

Monroe Capital is a provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada.