Nobilis Health has closed a $25 million debt financing facility. Here are five things to know.
1. The facility was closed with GE Capital, Healthcare Financial Services.
2. The facility will be used to finance the company's growth efforts. Nobilis will now have a new revolving line for working capital.
3. The company also plans to repay some outstanding debt, such as the $12 million seller's note associated with the Athas Health acquisition.
4. "This transaction successfully completes one of Nobilis' early 2015 goals; namely, the reduction in our average borrowing costs while also streamlining our capital structure. In addition, we believe our new relationship with GE Capital will provide yet another catalyst for Nobilis' anticipated growth throughout the remainder of 2015 and beyond," said Chris Lloyd, CEO of Nobilis Health.
5. The $25 million facility includes a $20 million term loan and $5 million revolving loan.