- Transaction more than doubled the size of the acquiring company
- Highly experienced New York Debt Finance team
- Transaction involved complex regulatory and joint venture issues
Mintz has represented a private equity-backed managed healthcare services company for several years, in connection with its initial formation and capitalization, numerous add-on acquisitions, and rounds of debt and equity financing.
When an opportunity arose for a game-changing acquisition, which would more than double the size of the company, the client turned to our Debt Finance team to handle the $1 billion+ syndicated credit facilities to finance it.
The firm helped negotiate papers with several bank arrangers and alternative lenders on top of the market terms to ensure that the client achieved the best financial results and most flexible covenant package that it could, with limited “funds certain”-style conditions to closing.
Mintz has a long tradition of serving as trusted legal and business advisors to private equity and venture capital firms. Our practitioners have completed hundreds of debt financing transactions of all sizes for private equity sponsors and their portfolio companies, including syndicated, club, and single lender deals.
Two senior attorneys in our New York office — Debt Finance partner Joseph Price and senior associate Matthew Gautier — took the lead on this debt financing. Their cross-disciplinary legal team included counsel with significant experience handling private equity debt financings, including tax, ERISA, healthcare regulatory, and intellectual property professionals.
The transaction was highlighted by a number of issues unique to healthcare transactions, such as corporate practice of medicine regulations and complex joint venture arrangements with hospitals.
This acquisition financing is only one of a series of recent transactions that the firm has handled for this client, and since its closing, it has worked on numerous incremental term loans to finance other highly accretive acquisitions.