Healthcare: Hospital operator

Company overview:

  • One of leading private hospitals operators in Poland
  • Company is characterized by stable, recurring revenue (>90% revenues based on long term government contracts) with high cash conversion

Need description:

  • Management needed capital to buy out passive investors

Investment overview:

  • Senior financing
  • 4-year maturity
  • Interest split into cash and PIK component
  • CVI bonds secured by shares and subsidiaries’ (hospitals) guarantees

Details

Size: EUR 5 million

Date: 2015

Financing type: senior

Use of proceeds: Management Buy-Out