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:3/23/2017)... Mosaic Life Care, based in St. Joseph, Missouri , ... network of 58 clinics, located in 22 cities, and its flagship St. Joseph Medical ... improve the delivery of health care to its patients, including the insurance, billing and ... ... Mosaic Life Care St. Joseph Medical Center ...
(Date:3/23/2017)... March 23, 2017  Transportation Insight, a multi-modal lead ... supply chain management firm with expertise serving clients in ... Rick Zaffarano was named a 2017 ... Chain by the only publication exclusively dedicated to covering ... chain. "Rick has brought to Transportation Insight ...
(Date:3/23/2017)... 2017 As a result of diagnostic ... prevalence of allergic diseases, cutting edge developments in ... the ways in which pharmaceutical and biotech companies ... to be both a high quality meeting and ... groups, immunologists, research scholars and doctors. The event ...
Breaking Medicine Technology:
(Date:3/24/2017)... Dallas, Texas (PRWEB) , ... March 24, 2017 , ... ... Budget Office score is invalid because it does not obey the rules Congress has ... million full-time equivalent jobs, which the GOP reform would restore. Yet, it estimates a ...
(Date:3/24/2017)... ... March 24, 2017 , ... ... related services to families and business owners across eastern Michigan, is connecting with ... families struggling with financial difficulties. , The Oxford/Orion FISH Food Pantry works to ...
(Date:3/24/2017)... ... March 24, 2017 , ... As the standards ... a communications platform that positions them as the go-to thought leader in all ... online publication as an always-on, always-fresh news, views and advocacy engine, called ONS ...
(Date:3/24/2017)... ... March 24, 2017 , ... The law firm of ... is pleased to announce Westchester resident Lauren C. Enea has joined the firm as ... firm, will concentrate her practice in elder law, Medicaid planning and applications, and Wills, ...
(Date:3/24/2017)... ... March 24, 2017 , ... ... of enhancements, upgrading their training and leads programs. , In February, 2017, Empower ... elite sales agents, Performance Partners is designed to teach how to maximize their ...
Breaking Medicine News(10 mins):