GE Capital Agents $2.1 Billion in Credit Facilities for Alere Inc.
BETHESDA, MD – July 7, 2011 — GE Capital, Healthcare Financial Services today announced it is serving as administrative agent on $2.1 billion of senior secured credit facilities for Alere Inc. (NYSE: ALR). The loans refinance existing credit facilities and provide additional capital to support the company’s growth strategy. GE Capital Markets served as joint lead arranger and joint book runner for the credit facilities.
Headquartered in Waltham, MA, Alere is a global leader in enabling individuals to take charge of their health at home through the combined use of rapid diagnostics and health management. Alere's products and services, as well as product development efforts, focus on cardiology, women's health, infectious disease, oncology and toxicology.
"GE Capital, Healthcare Financial Services has been our senior lender since we were founded nearly ten years ago. Throughout that time they have played a critical role in helping us to achieve our business objectives,” said David Teitel, CFO of Alere Inc. “As a growing company, we especially value their flexibility, relationship-oriented approach and advice on how best to access the capital we need to execute our strategy.”
“We take pride in supporting customer growth and establishing long-term, valued-added relationships,” said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services’ corporate finance group. "This latest transaction with Alere further demonstrates we have the industry and capital markets expertise needed to provide optimal financing solutions for our clients.”
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.