U.S. Healthworks completes $175 million financing package to leverage its acquisition strategy

U.S. HealthWorks, one of the nation’s largest providers of healthcare for on-the-job injuries and urgent care, today announced the completion of a $175 million financing package that will support the company in its growth and acquisition strategy.

“We are very pleased with the interest of investors and the financial community in our approach to delivering high quality, cost-effective health care”

The financing package, completed with the assistance of a lending group led by GE Capital, Healthcare Financial Services and Silver Point Finance, LLC, includes refinancing and new debt totaling $150 million, consisting of first and second secured credit facilities and a revolving line of credit. The company also received an additional $25 million in new equity from three existing investors: Altaris Capital Partners, LLC; Three Arch Partners; and Daniel D. Crowley, Chairman and CEO of U.S. HealthWorks.

“We are very pleased with the interest of investors and the financial community in our approach to delivering high quality, cost-effective health care,” said Mr. Crowley. “We were able to attract a top-tier group of lenders and put together an attractive package of loans on favorable terms in the midst of a difficult financing environment. We took this step so that we can accelerate our program of acquiring outpatient occupational health clinics.”

U.S. HealthWorks has acquired 26 clinics in the last three years. The company has announced acquisitions of five clinics in the last month.