Healthways amends credit agreement to extend maturity date by one year

By Marisa Wong

Morgantown, W.Va., Aug. 4 – Healthways, Inc. amended its fifth amended and restated credit agreement dated June 8, 2012 with SunTrust Bank as administrative agent to extend the maturity date and amend a definition, according to an 8-K filing with the Securities and Exchange Commission.

The Thursday amendment extends the expiration date of the company’s revolving credit facility and the maturity date of its term loan to June 8, 2018 from June 8, 2017.

However, the amendment takes into consideration that some lenders may not agree to the extended maturity date. As a result, the amendment preserves June 8, 2017 as the non-extended maturity date for those lenders.

The company also amended the definition of consolidated EBITDA to include an add-back for some non-cash gains and to take into account some financial consequences of the sale of its total population health services business to Sharecare, Inc.

Healthways is a Franklin, Tenn.-based provider of well-being improvement solutions.

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