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MidCap Financial Closes $44mm Senior Secured Credit Facility to AleraCare
May 30, 2023
By MidCap Financial
BETHESDA, MD, May 31, 2023 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $44mm senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare” or “Company”). Proceeds from the MidCap Financial credit facility were used to support Hildred Capital Management’s (“Hildred” or “Sponsor”) acquisition of the Company, and to provide for the business’ ongoing working capital needs.
About the Company
Founded in 2019 and headquartered in Phoenix, AZ, AleraCare is a leading provider of infusion and specialty pharmacy services for medications administered in a physician’s office, alternate site of care or home setting. The Company’s Ambulatory Infusion Centers offer a more convenient, comfortable, and cost-efficient alternative to hospital-based infusions for patients requiring medications to be administered by a healthcare professional. For more information about AleraCare, go to https://www.aleracare.com/.
About the Sponsor
Hildred is a New York-based private equity investment firm that pursues growth equity investments in middle market healthcare companies with leading products, technologies, and services. Hildred invests in companies with revenues of up to $100 million and creates value from pursuing organic growth strategies, driving effective resource allocation, implementing operational improvements, generating business development, and supporting best-in-class management teams. For more information about Hildred, go to https://www.hildredcapital.com/.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of March 31, 2023, MidCap Financial provides administrative or other services for over $46 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $598 billion as of March 31, 2023, in credit, private equity and real assets funds.
For more information about MidCap Financial, please visit http://www.midcapfinancial.com.
For more information about Apollo, please visit http://www.apollo.com.
*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV
Contact:
MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com
About the Company
Founded in 2019 and headquartered in Phoenix, AZ, AleraCare is a leading provider of infusion and specialty pharmacy services for medications administered in a physician’s office, alternate site of care or home setting. The Company’s Ambulatory Infusion Centers offer a more convenient, comfortable, and cost-efficient alternative to hospital-based infusions for patients requiring medications to be administered by a healthcare professional. For more information about AleraCare, go to https://www.aleracare.com/.
About the Sponsor
Hildred is a New York-based private equity investment firm that pursues growth equity investments in middle market healthcare companies with leading products, technologies, and services. Hildred invests in companies with revenues of up to $100 million and creates value from pursuing organic growth strategies, driving effective resource allocation, implementing operational improvements, generating business development, and supporting best-in-class management teams. For more information about Hildred, go to https://www.hildredcapital.com/.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of March 31, 2023, MidCap Financial provides administrative or other services for over $46 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $598 billion as of March 31, 2023, in credit, private equity and real assets funds.
For more information about MidCap Financial, please visit http://www.midcapfinancial.com.
For more information about Apollo, please visit http://www.apollo.com.
*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV
Contact:
MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com
