NEW YORK--(BUSINESS WIRE)--Brightwood Capital Advisors (“Brightwood”), a middle market private credit firm, announced that it has grown its existing senior secured credit facility to over $75 million with The Corridor Group (“Corridor” or the “Company”) to support the acquisition of Comprehensive Healthcare Solutions, LLC (“CHS”).
CHS was founded in 2009 and is based in Lakewood, NJ. CHS provides a fully outsourced RCM solution to skilled nursing facilities by handling all associated accounts receivable (“A/R”) management including billing, payments and remittances, denied claims resolution, and pursuit of payment for unpaid accounts. CHS also offers ancillary services such as office management, change of banking instructions for payors, completion of Medicare and Medicaid applications for patients, and payor contracting, among others.
“Corridor has been a long-term partner to Brightwood since our initial partnership in 2020. Since then, we have supported the Company through two additional acquisitions,” said Kunal Shah, Managing Director at Brightwood. “We look forward to continuing our partnership with Corridor as they provide their customers with further scale and additional service offerings.”
“We are pleased to continue our relationship with Brightwood through this latest transaction,” said Des Varady, CEO at Corridor. “With Brightwood’s support, we remain confident in Corridor’s success and long-term growth.”
About Brightwood Capital
Brightwood Capital Advisors, LLC is a private credit firm with a long-standing track record of investing in middle market businesses. Brightwood specializes in providing senior debt capital primarily to U.S. businesses with $5-$75 million of EBITDA within five core industries: technology & telecommunications, healthcare, business services, transportation & logistics and franchising. Brightwood partners with non-sponsored businesses as well as private equity sponsors to provide customized financing solutions for directly originated investments.
Founded in 2010, Brightwood is a minority-owned firm with a team of over 50 employees who manage more than $5 billion of assets on behalf of its primarily institutional investor base. Brightwood is headquartered in New York City. For more information, please visit: https://brightwoodlp.com/.
Founded in 1989, The Corridor Group Holdings, LLC (Corridor) is a long-standing provider of outsourced coding, revenue cycle and education solutions to the post-acute healthcare industry. Since inception, Corridor has delivered solutions to thousands of clients ranging from large health systems and national chains to smaller, independently operated agencies. For more information visit https://corridorgroup.com/.