Key Takeaways
- • Brightwood Capital Advisors led a $300 million senior secured credit facility to Giving Home Health Care (GHHC), according to a Business Wire announcement dated March 21, 2023.
- • The financing supports GHHC's recent partnership with FS Investments and funds its strategic growth initiatives.
- • GHHC, founded in 2012, provides skilled and unskilled home health and home aid services to long-term chronically ill individuals across Arizona, Colorado, Nevada, New Mexico, Texas, and Utah.
- • The deal deepens an existing Brightwood relationship with FS Investments, which manages over $35 billion in assets, and reflects Brightwood's focus on healthcare lending within middle-market private credit.
Summary
Brightwood Capital Advisors, a middle-market private credit firm, announced that it led a $300 million senior secured credit facility for Giving Home Health Care (GHHC). According to the announcement, the proceeds were used to support GHHC's recent partnership with FS Investments and to fund the company's strategic growth initiatives.
GHHC coordinates skilled and unskilled home health and home aid services for long-term chronically ill individuals in Arizona, Colorado, Nevada, New Mexico, Texas, and Utah. The company states that its patients typically suffer from a work-related accident or toxic exposure that leaves them needing a high level of care.
Kunal Shah, Managing Director at Brightwood, said the firm was pleased to continue deepening its relationship with FS Investments and cited FS Investments' track record in healthcare and industry knowledge as grounds for confidence in its ability to scale GHHC. Rushabh Vora, Managing Director at FS Investments, credited Brightwood's healthcare sector expertise and partnership approach with bringing the transaction to completion.
Legal advisers were named in the release: The Braff Group and Polsinelli advised GHHC, Orrick Herrington & Sutcliffe LLP advised FS Investments, and Akin Gump Strauss Hauer & Feld LLP advised Brightwood.
Brightwood, founded in 2010 and headquartered in New York City, specializes in senior debt for U.S. businesses with $5 million to $75 million of EBITDA across five core industries, including healthcare. The firm manages more than $5 billion on behalf of a primarily institutional investor base. FS Investments, headquartered in Philadelphia, manages over $35 billion in assets.
GHHC coordinates skilled and unskilled home health and home aid services for long-term chronically ill individuals in Arizona, Colorado, Nevada, New Mexico, Texas, and Utah. The company states that its patients typically suffer from a work-related accident or toxic exposure that leaves them needing a high level of care.
Kunal Shah, Managing Director at Brightwood, said the firm was pleased to continue deepening its relationship with FS Investments and cited FS Investments' track record in healthcare and industry knowledge as grounds for confidence in its ability to scale GHHC. Rushabh Vora, Managing Director at FS Investments, credited Brightwood's healthcare sector expertise and partnership approach with bringing the transaction to completion.
Legal advisers were named in the release: The Braff Group and Polsinelli advised GHHC, Orrick Herrington & Sutcliffe LLP advised FS Investments, and Akin Gump Strauss Hauer & Feld LLP advised Brightwood.
Brightwood, founded in 2010 and headquartered in New York City, specializes in senior debt for U.S. businesses with $5 million to $75 million of EBITDA across five core industries, including healthcare. The firm manages more than $5 billion on behalf of a primarily institutional investor base. FS Investments, headquartered in Philadelphia, manages over $35 billion in assets.
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