BETHESDA, Md.--01 February 2011-- GE Capital, Healthcare Financial Services announced today that it is administrative agent for $205 million in senior secured credit facilities for AccentCare, Inc., a premier provider of a full spectrum of home healthcare services, ranging from non-medical, personal care to home health, skilled nursing, hospice care and rehabilitation. The credit facilities will provide the company with additional growth capital and supported the acquisition of Guardian Home Care Holdings, Inc. The credit facilities include a $180 million term loan and a $25 million revolving line of credit. GE Capital Markets served as joint lead arranger and joint bookrunner for the credit facilities.
AccentCare, Inc., is headquartered in Irvine, California. Guardian Home Care, a leading provider of comprehensive homecare and hospice services, was founded in 1969 and is headquartered in Brentwood, Tennessee.
"GE Capital's Healthcare Financial Services business has been a very supportive financing resource throughout AccentCare's growth," said Charles Patton, Partner at Oak Hill Capital, which owns AccentCare. "Their expertise, professionalism and trustworthiness are among the reasons we value working with GE."
"This acquisition enables AccentCare to create one of the strongest operators in the industry. We are pleased to work in collaboration with Oak Hill Capital and AccentCare as they continue to grow their business," said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services' corporate finance group. "Our products, expertise in the home health sector and financing experience uniquely enable us to help customers meet their growth objectives."
About GE Capital, Healthcare Financial Services
With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create 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 gecapital.com or follow company news via Twitter (@GECapital).
GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. Visit ge.com.
Ned Reynolds
GE Capital
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