BETHESDA, Md.--(BUSINESS WIRE)--GE Capital, Healthcare Financial Services, one of America's leading healthcare financiers, today announced it served as administrative agent on a $97.5 million senior credit facility for Univita Health Inc., a portfolio company of Genstar Capital. The loan will be used to refinance a portion of Univita's existing indebtedness and for general corporate purposes. GE Capital Markets, Inc. arranged the transaction as sole bookrunner and co-lead arranger.
Headquartered in Scottsdale, AZ, Univita Health Inc. provides an integrated approach to home-based care and support. Its independent aging platform was created through the acquisitions of Long Term Care Group, Inc. -- the nation's premier supplier of outsourced services in the long-term care industry and Enurgi -- a web-based healthcare services company that connects families and patients with local, clinical caregivers across the country.
"GE Capital's Healthcare Financial Services business worked closely with us to execute this transaction to refinance a portion of our existing indebtedness," said Patrick Yount, chief operating and chief financial officer for Univita Health Inc. "Especially in this uncertain credit market, we value having a lender who was able to make a commitment and deliver the capital we required."
"We remain committed to helping our customers through this challenging economic cycle and the changes in the healthcare industry," said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services' corporate finance group. "To help them meet their goals, we can leverage our deep industry knowledge and financial expertise to arrange multi-party credit facilities, while leading transactions with a significant financing commitment of our own."
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 long-term care, 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 www.gehealthcarefinance.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at www.ge.com.
About Univita Health
Univita Health is dedicated to helping people live and age with independence. By providing one place to find and manage resources that support independent aging, Univita makes it easier for seniors to receive care and age safely at home. Univita is transforming home based care by integrating the full range of in-home care needs from basic caregiving through complex home health care, with the latest communication technologies. Through Univita's web portal, people can directly communicate with providers and caregivers, coordinate scheduling, handle payment and monitor real-time activity. And Univita offers families unique, personalized assessments and decision support including financial planning tools. For more information, please visit www.univitahealth.com.
Jeanne DeLeonardo