Imagine Health care, a primary countrywide clinical team, today declared that certain of its subsidiaries entered into new senior secured initially and second lien financing amenities. The new first lien credit score facility in the mixture amount of $1.3 billion is made up of an preliminary $1.1 billion funding and a $200 million delayed draw phrase loan. Independently, the new next lien facility is made up of financial loans in the combination amount of about $1.3 billion.

The new first lien credit history facility presents Envision with $1.1 billion in fast incremental capital, with up to $200 million in added money, to invest in the business enterprise and go after growth options. This includes strengthening products and services for the tens of millions of people who count on Imagine Health care, continuing to provide sources for clinicians and investing in the groups who assistance the two.

The new 1st lien credit facility also supplies a amount of balance by way of the uncertainty struggling with the healthcare industry.

Envision Health care used proceeds from the new next lien amenities to consummate negotiated repurchases of approximately $1.5 billion in principal amount of its remarkable first lien term personal loan B due 2025 at a blended price tag equivalent to 66 percent of the applicable principal sum, $326 million in principal quantity of its excellent incremental expression loans because of 2025 at a value equivalent to 90 per cent of the relevant principal total, and $87 million in principal volume of its senior unsecured notes at a rate equivalent to 46 percent of the relevant principal sum. The new to start with and second lien financial debt instruments will allow Visualize Healthcare to possibly total further more worth-accretive open marketplace purchases of its present personal debt in the upcoming, therefore strengthening its funds composition.

“We think these financing transactions will offer our organization with fiscal versatility and growth options,” mentioned Jim Rechtin, Chief Govt Officer of Visualize Health care. “Our precedence is to go on to aim on supplying superior-good quality care to individuals, investing in our groups and caring for communities.”

Envision Healthcare is a primary nationwide healthcare team serving hospitals and healthcare systems in specialties such as anesthesiology, crisis medicine, hospital medication, radiology, surgical procedure and women’s and kid’s care. It also operates more than 250 ambulatory operation centers throughout 34 states by its AMSURG company. The 25,000 clinicians with Visualize supply care to additional than 30 million individuals just about every yr.

The organization’s investment decision banker is PJT Associates LP, its monetary advisor is Alvarez & Marsal LLC and its authorized advisor is Kirkland & Ellis LLP.


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