BETHESDA, Md.--16 June 2009-- GE Capital, Healthcare Financial Services today announced it provided a $75 million senior credit facility for Arizant Inc. The loan will be used to refinance Arizant's existing indebtedness and for general corporate purposes. GE Capital Markets served as joint lead arranger and sole bookrunner.
Headquartered in Eden Prairie, MN, Arizant Healthcare Inc. pioneered the concept of forced-air patient warming with the 1987 introduction of the Bair Hugger® therapy. Today, more than 80 percent of U.S. hospitals use Bair Huggertherapy. Arizant's suite of patient warming products, including the Ranger® blood/fluid warming system, and the Bair Paws® patient adjustable warming system, have been used to maintain normothermia in more than 100 million patients worldwide.
"GE Capital's Healthcare Financial Services business worked closely with us to execute this transaction before our existing cash flow facilities reached their maturity," said Marie Humbert, senior vice president of finance for Arizant 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 borrowers manage through the economic downturn and the rapid changes within the healthcare industry," said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services' corporate finance group. "Borrowers appreciate our ability to work with other lenders 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.
Ned Reynolds
GE Capital
[email protected]
+1 203 2295717
+1 203 8370699