GE Capital Agents $205 Million in Credit Facilities for U.S. HealthWorks
BETHESDA, MD – June 22, 2011 — GE Capital, Healthcare Financial Services today announced it was administrative agent on $205 million of credit facilities for U.S. HealthWorks Holding Company, Inc. The loan refinances existing debt and provides additional capital to support a company preferred stock redemption. GE Capital Markets served as sole lead arranger and bookrunner for the credit facilities.
Headquartered in Valencia, CA, U.S. HealthWorks is a leading national provider of outpatient occupational medicine services for work-related injuries and illnesses, and urgent care services to private patients. With over 150 locations consisting of clinics and worksite centers in 13 states, U.S. HealthWorks’ centers serve over 10,000 patients each day throughout the country.
"We completed our first financing with GE Capital, Healthcare Financial Services 12 years ago, and despite an ever-changing financial market, their team continues to understand our needs and deliver financial solutions to match,” said Daniel Crowley, president and CEO of U.S. HealthWorks.
“We value long-term relationships with our customers,” said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services’ corporate finance group. "This transaction demonstrates the importance of having an experienced capital markets team able to execute syndication in a difficult dividend recapitalization environment.”
About GE Capital, Healthcare Financial Services
With over $17 billion invested in more than 40 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry. 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.