MidCap Financial provided a $20 million senior revolving credit facility to ABD Group (Village Fertility Pharmacy or VFP). The MidCap credit facility includes an uncommitted option to increase the total facility size up to $35 million. Proceeds from the MidCap credit facility were used to refinance the company’s prior credit facility and support VFP’s growth.
“We are thrilled to have MidCap Financial as a partner. They understand the fertility pharmacy sector and our management team looks forward to working with them as we continue to establish VFP as the leading fertility pharmacy partner with physicians, clinics, patients, and benefit managers,” Richard J. Burkett, pharmacy CEO and board director at VFP, said. “Our partnership with MidCap Financial also enables us to expand into other women’s health products and increase our focus in targeted geographies.”
“We are excited to continue to build our partnership with Village Fertility Pharmacy. The management team has been a pleasure to work with, and they’re well positioned for meaningful growth in the fertility pharmacy space,” Garrett Fletcher, product head of asset-based lending at MidCap Financial, said.
