CHICAGO--(BUSINESS WIRE)--NXT Capital (“NXT”) announced today the hiring of Dave Allen as a Managing Director in its Corporate Finance unit with responsibility for NXT’s cash flow lending activities in the healthcare sector. Dave has spent over 18 years in middle-market commercial finance with City National, Heller Financial, GE Capital and Freeport Financial. Most recently he was a co-founder of, and built the healthcare practice for, Freeport Financial. Prior to entering banking, Dave spent time at Genentech and served as a top aide to a Member of Congress. Dave will be joined by Joe Gambino, Vice President. Joe has over 10 years of middle market lending experience with Freeport Financial and GE Capital.
NXT Capital’s new healthcare team has extensive experience across a broad array of healthcare sectors including medical and dental service providers, labs, outsourced business services, HCIT, distribution, medical products and devices, pharma/bio services, specialty pharma, insurance and payor related services. NXT focuses on senior and stretch senior loans primarily to private equity backed companies generating $5 million to $50 million in EBITDA. NXT targets hold positions from $15 million to $40 million and maintains capabilities to underwrite financing commitments up to $125 million in size.
John Finnerty, Senior Managing Director and head of Corporate Finance, said “we are extremely pleased to add someone of Dave’s caliber to our Corporate Finance team to spearhead our efforts in the healthcare sector. The sector represents over 15% of overall financing activity in the middle-market and the formation of a dedicated team significantly enhances our ability to execute on healthcare oriented transactions.”
NXT Capital (www.nxtcapital.com) is a privately held commercial finance company headquartered in Chicago, providing structured financing solutions to the middle market through its Corporate Finance and Real Estate Finance groups. Since inception in April, 2010, the company has extended over $760 million in new financing commitments representing 38 transactions.