GE Capital’s Healthcare Financial Services (HFS) business announced
today that it is serving as administrative agent on $175 million of
senior secured credit facilities for Physiotherapy Corporation. The
proceeds will be used to refinance existing senior debt. GE Capital
Markets served as joint lead arranger and co-bookrunner on the
facilities.
Headquartered in Exton, PA, Physiotherapy is a leading provider of
outpatient rehabilitation services; it has a national footprint of 569
outpatient rehabilitation clinics and 25 orthotic and prosthetic clinics
spanning 29 states and Washington, D.C.
“GE Capital was able to provide us with strong execution and syndication
capabilities,” said Paul Solomon, Physiotherapy’s CFO. “One of the
wonderful benefits of significantly lowering our borrowing costs is that
we can invest even more in the great work already being done by our
dedicated practitioners.”
“We are excited to be part of this important financing for a market
leader in the outpatient physical rehabilitation space,” said Al Aria,
senior managing director of GE Capital, Healthcare Financial Services.
"We look forward to supporting Physiotherapy’s management as they
execute on their strategic plan.”
About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the
most active capital providers in the U.S. healthcare market, providing
more than $10.5 billion in financing across more than 240 transactions
in 2014. For the third consecutive year, HFS was the top lead arranger
for financings up to $1 billion in U.S. healthcare leveraged finance,
according to Thompson Reuters LPC Loan Connector.
Customers across 45 healthcare sectors — including senior housing,
hospitals, medical offices, outpatient services, pharmaceuticals and
medical devices — rely on HFS to finance acquisitions, refinance
existing debt, support working capital needs and fund growth
initiatives. With in-depth industry knowledge and expertise, the HFS
team of professionals creates financial solutions tailored to meet the
individual needs of its customers. For more information, visit
gecapital.com/healthcare or follow company news via Twitter (http://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of
financial products and services.
GE (NYSE: GE) imagines things others don’t, builds things others can’t
and delivers outcomes that make the world work better. GE brings
together the physical and digital worlds in ways no other company can.
In its labs and factories and on the ground with customers, GE is
inventing the next industrial era to move, power, build and cure the
world. www.ge.com
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