GE Capital’s Healthcare Financial Services business announced today that
it is serving as administrative agent on $165 million in senior credit
facilities for Paradigm Management Services, LLC, a specialty provider
of healthcare management services for patients with complex medical
needs. The proceeds of the credit facilities will be used to refinance
an existing term loan, pay a dividend to shareholders and fund general
corporate purposes. GE Capital Markets served as joint lead arranger and
joint bookrunner on the transactions.
“Paradigm has built a unique and valuable business model,” said Al Aria,
senior managing director of corporate finance for GE Capital, Healthcare
Financial Services. “We are pleased to play a continuing role in support
of their development.”
Thomas Mastri, CFO of Paradigm, said, “GE Capital understands our
business and therefore is able to provide us with a superior level of
credit availability and flexibility, which is important as we continue
to grow.”
Paradigm,
based in Walnut Creek, CA, is the leading provider in the U.S. of
catastrophic injury-management services for worker’s compensation
losses, serving insurance carriers, state funds and self-insured
corporations.
About GE Capital, Healthcare Financial Services
With in-depth industry knowledge and expertise, GE Capital, Healthcare
Financial Services has provided more than $65 billion in financing over
10 years to companies in over 45 healthcare sectors including senior
housing, hospitals, medical offices, outpatient services,
pharmaceuticals and medical devices. Our team of professionals creates
business and financial solutions tailored to meet the individual needs
of our customers. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (@GECapital and @GELendLease).
GE (NYSE: GE) works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. For more
information, visit the company's website at www.ge.com.
Copyright Business Wire 2014