As at April 2015, Nobilis Health Corporation announced the closure of its $25 million working loan facility that was offered by GE Capital. The facility played a very integral role in supporting Nobilis’ growth efforts as well as providing new and revolving working capital with the ability to repay some of its outstanding indebtedness that includes the more than $12 million seller’s note that it used to acquire Athas Health in December 2014.
The transaction came at a time when the company was eager to complete its early 2015 goals that included reducing the borrowing costs as well as streaming its capital structure. Besides, Nobilis was confident that its new partnership with GE Capital was set to provide yet another avenue for its expected growth for the remainder of the year.
Being a company that is structured on providing renown healthcare companies with the needed and flexible capital programs so as to increase growth, GE Capital was also confident that the partnership with Nobilis would pave way for an even better partnership in future. The $25 million loan facility that was completed on March 2015 included a $20 million long-term loan as well as a $5 million revolving loan.
The loan facility was set to improve Nobilis’ services to a very big extent. The company is well known for its set of procedures that are direct-to-patient focused and that are performed at all its centers by local physicians. The company also owns and manages different ambulatory surgery centers in Houston, Arizona, Scottdale and Dallas. On top of that, it also owns an acute care hospital in Houston and two imaging centers in the same area.
On its part, GE Healthcare Financial Services is one of the most sought after capital providers in the whole of the US healthcare market providing not less than $10.5 billion in financing terms to not less than 240 transaction in the year 2014. For five consecutive years, the company has been the number one preferred financing arranger for all deals worth less than $500 million in the US healthcare leveraged finance based on the number of transactions completed as well as the volume.
As of December, 2014, the company changed from Northstar Healthcare Inc, to its current name. The company President said that the change was very necessary as it enabled even better penetration into the US capital markets. By changing the name, the company played a very integral role in avoiding potential confusion that is as a result of other companies in different sectors of the economy using the Northstar name.
At the time of the announcement, the company was waiting for a registration statement from the United States Securities and Exchange Commission and it was expecting a listing on a notable United States exchange in early 2015. The company was also expecting to begin trading after just a few days with the new name pending final clearance from the TSX. Nobilis has and will continue playing a very effective role in the sector it operates in providing efficient healthcare services to the many patients in the country.