SAN FRANCISCO--(BUSINESS WIRE)--BizCap®, a commercial finance advisory firm established in 2002, is pleased to announce that it has assisted Performant Financial, primarily operating under subsidiary Performant Healthcare Solutions, in securing a $25MM credit facility. Performant, a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, has successfully completed the refinancing of its existing credit facility with a new credit facility from Wells Fargo. The Company may also increase commitments under the new credit facility by an additional $10 million, subject to obtaining commitments from lenders and subject to certain other conditions. This strategic move is set to fortify Performant's financial foundation and further support its ongoing operations and growth initiatives.
Rohit Ramchandani, the Chief Financial Officer of Performant, remarked, "Collaborating with BizCap has proven to be an outstanding experience for Performant. Their expertise in debt capital markets and structures was exemplary, effectively functioning as an extension of our internal team to optimize outcomes. The new credit agreement with Wells Fargo represents a significant element of Performant's financial strategy in support of our ongoing growth initiatives.”
“Working with the Performant team during this critical phase in the company's growth has been a pleasure. We're delighted with the results of the BizCap process, which improved pricing and availability terms for our client, even in today's challenging financing environment,” said Cooper Brown, Associate at BizCap. “We look forward to the future as Simeon, Rohit, and the Performant team continue to execute their long-term growth strategy in healthcare payments integrity.”
With this financing, BizCap has once again proven its capabilities and commitment to assisting companies in achieving their financial goals. The success of this transaction further solidifies BizCap’s reputation as a trusted partner dedicated to providing exceptional service and results for its clients.
BizCap® (Business Capital since 2002) is a time-tested national commercial finance and advisory firm specializing in securing customized non-dilutive credit-based solutions for rapidly growing as well as challenged middle market companies nationwide who require unique, timely and tailored financing structures to address their particular needs, especially when conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national nonprofit that connects children facing serious and chronic Illnesses with local college athletic teams, forming life-long bonds and life-changing outcomes.