Navigation Links
MidCap Financial Acquired by an Entity Managed by Apollo Global Management
Date:11/18/2013

BETHESDA, Md., Nov. 18, 2013 /PRNewswire/ -- MIDCAP FINANCIAL, LLC ("MidCap"), a leading healthcare oriented commercial finance company focused on the middle market in the United States, today announced it has been acquired by an entity managed by Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, "Apollo"), a leading global investment manager with approximately $157 billion of assets under management. Under its new ownership, MidCap will continue to provide capital to all sectors of the healthcare middle market, and will also expand its access to capital and product offerings through its partnership with Apollo. Terms of the transaction were not disclosed.

Since its founding in 2008, MidCap has established a leadership position in providing financing across the healthcare middle market through asset-based working capital loans, leveraged loans, life sciences loans, and real estate loans. MidCap currently has more than 150 lending relationships and nearly $2 billion under management, with a robust pipeline of lending opportunities to continue its growth trajectory across the healthcare industry.

"The entire MidCap team is excited to embark on this new chapter in our development," said Howard Widra, CEO of MidCap Financial. "We are grateful for the support we have received from Lee Equity Partners, Genstar Capital, and Moelis Capital Partners in helping to fund MidCap's growth over the past five years, and we now look forward to partnering with Apollo's industry leading credit business, which we believe will enable us to meaningfully expand MidCap's product set and capabilities going forward."

Marc Rowan, Senior Managing Director of Apollo, said, "MidCap has built an outstanding lending business in the healthcare industry, which represents the largest and one of the most important sectors of the U.S. economy. We believe MidCap's leadership position, best-in-class team, proven credit track record, and healthcare expertise will provide substantial opportunities to Apollo affiliates and other accounts managed by Apollo's credit platform through direct access to loan originations in the healthcare sector." 

Bank of America Merrill Lynch, SunTrust Robinson Humphrey, and Moelis & Company advised MidCap, and the law firm, GreenbergTraurig, represented MidCap.  

About MidCap Financial, LLC

MidCap Financial is a commercial finance company focused on middle market lending, with emphasis on the broad national healthcare industry. MidCap specializes in $5 million to $200 million loans. The company is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles, and focuses in four areas:

  • Asset-Based working capital loans collateralized by third-party accounts receivable and other assets;
  • Leveraged loans to companies backed by private equity sponsors;
  • Life Sciences loans to VC-backed and public pharmaceutical, biotech, and medical device companies; and
  • Real Estate loans to skilled nursing facilities, senior housing properties, and medical office buildings.

Additional information about MidCap Financial can be found at www.midcapfinancial.com

Contact:
MidCap Financial, LLC
David G. Moore, CFO
301-760-7600
dmoore@midcapfinancial.com


'/>"/>
SOURCE MidCap Financial, LLC
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. CorMedix to Report Third Quarter Financial Results on November 19, 2013
2. International Isotopes Inc. Announces Third Quarter And Nine Months 2013 Financial Results
3. ULURU Inc. Reports Third Quarter 2013 Financial Results
4. China Pharma Holdings, Inc. Reports Third Quarter 2013 Financial Results
5. TPI Reports First Quarter Fiscal Year 2014 Financial Results
6. Nephros Reports Third Quarter 2013 Financial Results and Completes Bridge Financing
7. China Jo-Jo Drugstores Announces Fiscal 2014 Second Quarter Financial Results
8. Dynatronics Announces First Quarter Financial Results
9. PTC Therapeutics Reports Third Quarter 2013 Financial and Corporate Results
10. EntreMed Reports Third Quarter 2013 Financial Results
11. Intercept Pharmaceuticals Reports Third Quarter 2013 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... , June 23, 2016  MedSource announced today ... its e-clinical software solution of choice.  This latest ... possible value to their clients by offering a ... preferred relationship establishes nowEDC as the EDC platform ... MedSource,s full-service clients.  "nowEDC has long been a ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: RO, ... clearance for its Elecsys BRAHMS PCT (procalcitonin) assay as ... or septic shock. With this clearance, Roche is the ... fully integrated solution for sepsis risk assessment and management. ... bacterial infection and PCT levels in blood can aid ...
(Date:6/23/2016)... Calif. , June 23, 2016 ... CST on Thursday, July 7, 2016 , , , , ... ) , , , , EXPERT PANELISTS:  , , ... Naik; Senior Industry Analyst, Christi Bird; Senior Industry Analyst, Divyaa Ravishankar ... The global pharmaceutical industry is witnessing an exceptional ...
Breaking Medicine Technology:
(Date:6/26/2016)... (PRWEB) , ... June 26, 2016 , ... Pixel Film ... Pro X. , "Film editors can give their videos a whole new perspective by ... Austin - CEO of Pixel Film Studios. , ProSlice Levels contains over 30 ...
(Date:6/25/2016)... , ... June 25, 2016 , ... ... policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at ... on several important health care topics including advance care planning, healthcare costs and ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding ... of its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. ... James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, whether ... latter, setting the bar too high can result in disappointment, perhaps even self-loathing. However, ... their goal. , Research from PsychTests.com reveals that behind the tendency ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her son ... lash out at his family verbally and physically. , “When something upset him, he couldn’t ... would use it. He would throw rocks at my other children and say he was ...
Breaking Medicine News(10 mins):