Golub Capital acted as sole bookrunner, administrative agent and lead arranger on a $270 million delayed draw term loan to New Enterprise Associates’ portfolio company Radiology Partners, raising the company’s GOLD facility to $1 billion. The financing will support Radiology Partners’ acquisition of Renaissance Imaging Medical Associates and its continued growth strategy.
The GOLD facility consists of a $40 million revolver, a $690 million term loan and a $270 million DDTL that is available until December 2019. This marks Golub Capital’s largest DDTL facility to date.
“Radiology Partners and New Enterprise Associates are valued partners and we have remained committed to their growth by meeting their dynamic and evolving financing needs,” said Stefano Robertson, managing director and head of Healthcare Finance at Golub Capital. “We are pleased with our ability to deliver this significant DDTL, affording them a greater timeline to make future strategic decisions.”
“Golub Capital’s healthcare team continues to meet us at every turn of Radiology Partners’ evolution. Golub has proven to be a highly differentiated debt capital markets partner who has been integral to fueling Radiology Partners’ hyper-growth,” said Mohamad Makhzoumi, general partner and global head of Healthcare Services at NEA.
Formed by NEA in November 2012, Radiology Partners is a hospital-based radiology practice with a focus on clinical value and service, offering both on-site and remote coverage.
GOLD financings are Golub Capital One-Loan Debt facilities.
