NXT Capital acted as administrative agent, sole lead arranger and sole bookrunner on a senior secured credit facility to support Audax Private Equity’s acquisition of PHOENIX Rehabilitation and Health Services.
“We are pleased to work with the NXT Capital team again,” said Mark Cordes, Audax managing director. “NXT’s experience in the healthcare services sector allowed for a quick and efficient closing and going forward, the NXT credit facility is structured to allow PHOENIX to continue with its growth plans.”
Founded in 1997 and headquartered in Blairsville, PA, PHOENIX is a community of out-patient rehabilitation centers with over 80 locations across the East Coast of the U.S. In addition to rehabilitation services, the WorkPlace Health division offers non-emergency injury care and injury case management, as well as, occupational health services such as drug screens, audiometric testing, DOT and non-DOT physicals.
Founded in 1999, Audax Group is an alternative investment manager with offices in Boston, New York and San Francisco. Since its founding in 1999, the firm has raised over $23 billion in capital across its Private Equity and Private Debt businesses.
Based in Chicago, NXT Capital provides structured financing solutions through its Corporate Finance and Real Estate Finance groups. It has offices in Atlanta, Dallas, Los Angeles, Nashville, New York and Phoenix.
