HOUSTON, TX--(Marketwired - Apr 2, 2015) - Nobilis Health Corp. (
"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.
"Our specialty is providing healthcare companies with flexible capital programs to help our customers expand their companies, as is the case of Nobilis Health Corp.," said Al Aria, senior managing director of Corporate Finance at GE Capital, Healthcare Financial Services. "We look forward to continuing to support their growth strategies in the future."
The funding of the $25 million facility, which closed on March 31, 2015, includes a $20 million term loan and $5 million revolving loan at LIBOR+4% (4.71% as of March 31, 2015), as compared to its current average borrowing cost of approximately 9.6%.
About GE Capital, Healthcare Financial Services
GE Capital's Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market, providing more than $10.5 billion in financing across more than 240 transactions in 2014. For the fifth consecutive year, HFS was the No. 1 lead arranger for all financings under $500 million in U.S. healthcare leveraged finance (based on volume and number of transactions completed), according to Thompson Reuters.
Customers across 45 healthcare sectors -- including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices -- rely on HFS to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth industry knowledge and expertise, the HFS team of professionals creates financial solutions tailored to meet the individual needs of its customers. For more information, visit www.gecapital.com/healthcare.
About Nobilis Health Corp.
Nobilis utilizes innovative direct-to-patient marketing focused on a specified set of procedures that are performed at our centers by local physicians. We own and manage ambulatory and acute care facilities to deliver healthcare services. Nobilis owns and manages interests in ambulatory surgery centers in Houston, Dallas, and Scottsdale, Arizona. In addition, Nobilis owns one acute care hospital in Houston. Nobilis also owns and manages interests in two imaging centers and one urgent care clinic in Houston. For more information, visit www.NobilisHealth.com.
The Private Securities Litigation Reform Act of 1995 (the Act) provides a safe harbor for forward-looking statements made by or on behalf of the Company. Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company's plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company's products are forward-looking statements within the meaning of the Act. The words "believe," "expect," "anticipate," "estimate," "project," and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company's continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company's most recent Annual Report on Form 10-K and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) and financial outlooks relating to the business of Nobilis Health Corp. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions and may discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. These statements are based on the Company's expectations, estimates, forecasts and projections and while the Company considers these to be reasonable based on information currently available, they may prove to be incorrect. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at www.NobilisHealth.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Other than as required by law, the Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.