BETHESDA, Md.--(BUSINESS WIRE)--GE Capital’s Healthcare Financial Services (HFS) business announced today that it is serving as administrative agent on $175 million of senior secured credit facilities for Physiotherapy Corporation. The proceeds will be used to refinance existing senior debt. GE Capital Markets served as joint lead arranger and co-bookrunner on the facilities.
Headquartered in Exton, PA, Physiotherapy is a leading provider of outpatient rehabilitation services; it has a national footprint of 569 outpatient rehabilitation clinics and 25 orthotic and prosthetic clinics spanning 29 states and Washington, D.C.
“GE Capital was able to provide us with strong execution and syndication capabilities,” said Paul Solomon, Physiotherapy’s CFO. “One of the wonderful benefits of significantly lowering our borrowing costs is that we can invest even more in the great work already being done by our dedicated practitioners.”
“We are excited to be part of this important financing for a market leader in the outpatient physical rehabilitation space,” said Al Aria, senior managing director of GE Capital, Healthcare Financial Services. "We look forward to supporting Physiotherapy’s management as they execute on their strategic plan.”
About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market, providing more than $10.5 billion in financing across more than 240 transactions in 2014. For the third consecutive year, HFS was the top lead arranger for financings up to $1 billion in U.S. healthcare leveraged finance, according to Thompson Reuters LPC Loan Connector.
Customers across 45 healthcare sectors — including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices — rely on HFS to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth industry knowledge and expertise, the HFS team of professionals creates financial solutions tailored to meet the individual needs of its customers. For more information, visit gecapital.com/healthcare or follow company news via Twitter (http://twitter.com/GELendLease). GE Capital offers consumers and businesses around the globe an array of financial products and services.
GE (NYSE: GE) imagines things others don’t, builds things others can’t and delivers outcomes that make the world work better. GE brings together the physical and digital worlds in ways no other company can. In its labs and factories and on the ground with customers, GE is inventing the next industrial era to move, power, build and cure the world. www.ge.com