Veradigm reduces commitment to $400 million, makes other changes

By Wendy Van Sickle

Columbus, Ohio, Jan. 31 – Veradigm Inc. amended its credit agreement with JPMorgan Chase Bank, NA as administrative agent on Jan. 31, reducing the aggregate commitment to $400 million from $700 million, according to an 8-K filing with the Securities and Exchange Commission.

Further, the maximum incremental facility was reduced to a fixed amount of $200 million.

The amendment also provides the company with an additional relief period during which it has additional time to furnish its financial statements for the fiscal quarters and fiscal years ending on or prior to Sept. 30, 2024.

Until all required financial statements have been delivered and the company elects to terminate such additional relief period, the amendment includes a minimum liquidity covenant applicable to the company during such relief period (reduced to $350 million from $450 million), and applies the highest pricing category in the leveraged-based pricing grid in the credit agreement during the relief period.

Finally, the amendment also continues to permit the company to use management projected financial statements for purposes of financial testing.

Based in Chicago, the company provides physician practices, hospitals, and other health care providers with practice management and electronic health record technology.

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