Twin Brook served as administrative agent on a financing to support the Cisive’s add-on acquisition of PreCheck, a provider of background screening compliance monitoring and credentialing solutions for the healthcare industry.
PreCheck serves over 4,000 hospitals, long-term care facilities, clinics, educational institutions and other ancillary healthcare organizations across the U.S.
Cisive is a worldwide provider of compliance-driven human capital management and risk management solutions. It is portfolio company of private equity firm CIP Capital.
“The acquisition of PreCheck represents a great opportunity for Cisive to expand its expertise in the healthcare industry and enhances PreCheck’s ability to advance in the global healthcare market,” said James Owens, Cisive president and CEO. “PreCheck is a perfect complement to Cisive as both companies cater to the needs of highly regulated industries and have a deep commitment to quality of service, regulatory compliance, and providing a high-touch customer experience. We are thrilled to bring together these two powerful entities where we can continue to excel and expand our leadership serving enterprise clients.”
“PreCheck gained the perfect partner in Cisive, who shares our passion for accuracy and providing world-class customer service,” said PreCheck President Zach Daigle. “This ideal pairing will expand our capabilities in the United States and globally as we focus on providing better resources, more advanced technologies and deeper expertise for our healthcare clients. PreCheck remains committed to our mission of advancing the quality of healthcare as we embark in this exciting new chapter.”
Stifel, Nicolaus & Company served as financial advisor and Bracewell as legal advisor to PreCheck in the transaction.
Twin Brook is the middle market direct lending arm of Angelo Gordon. The firm targets senior financing opportunities of up to $400 million with hold sizes across the Twin Brook platform ranging from $25 million up to $150 million.
