Daily News: August 1, 2013

SunTrust, Others Finance CarePoint Partners’ Sale to BioScrip

BioScrip announced that it entered into a senior secured first-lien revolving credit facility in an aggregate principal amount of $75 million, a senior secured first-lien term loan B in an aggregate principal amount of $250 million and a senior secured first-lien delayed draw term loan B in an aggregate principal amount of $150 million with SunTrust Bank, Jefferies Finance and Morgan Stanley Senior Funding.

The proceeds of the loans under the senior credit facilities will be used to fund a portion of the purchase price for BioScrip’s previously announced acquisition of CarePoint Partners Holdings; refinance certain existing indebtedness; and fund other general corporate purposes of BioScrip and its subsidiaries, including acquisitions, investments, capital expenditures and working capital needs. The delayed draw term loan facility will be funded in connection with the closing of the CarePoint Acquisition.

BioScrip provides comprehensive infusion and home care solutions. By partnering with patients, physicians, healthcare payors, government agencies and pharmaceutical manufacturers, the company provides access to infusible medications and management solutions.