First Citizens Bank’s healthcare finance division has closed a $125 million senior credit facility for New Day Healthcare, a provider of home-based services. The funding is aimed at refinancing New Day’s existing debt, facilitating four acquisitions under letters of intent and supporting future acquisition pipelines. First Citizens Bank acted as the lead arranger and administrative agent for the transaction.
“This financing supports New Day’s growth strategy as we expand our offerings to better serve communities across the U.S.,” G. Scott Herman, CEO of New Day Healthcare, said. “This acquisition of four facilities in key regions enhances our strong portfolio and advances our mission of delivering comprehensive, patient-centered care in various post-acute settings.”
“We are pleased to support New Day Healthcare as they continue to expand and enhance post-acute care services,” William Douglass, group head of First Citizens Bank Healthcare Finance, said. “New Day’s commitment to quality care aligns with our focus on helping healthcare providers grow and meet evolving patient needs.”
“Our team has built a strong relationship with New Day and Kaltroco, and we are proud to assist them in advancing their business goals,” William Duke, a managing director for healthcare finance at First Citizens, said. “This financing underscores our dedication to providing tailored financial solutions that support growth and sustainability in the healthcare sector.”
