MBF Healthcare plans up to $265 million credit facility for Critical Homecare purchase

By Sara Rosenberg

New York, Feb. 7 - MBF Healthcare Acquisition Corp. has received a commitment for an up to $265 million credit facility to help fund its acquisition of Critical Homecare Solutions Holdings, Inc., according to an 8-K filed with the Securities and Exchange Commission Thursday.

Jefferies is the lead bank on the deal.

The facility consists of a $25 million revolver, a $140 million to $155 million first-lien term loan, and a $40 million to $85 million second-lien term loan.

MBF is buying the company from Kohlberg & Co. LLC for $420 million, subject to a working capital and certain other customary adjustments.

Other financing will come from about $180 million of cash in its trust account, a $35 million equity issuance and a commitment from MBF Healthcare Partners LP to acquire up to an additional $50 million in shares of its common stock.

Closing is expected in the second or third quarter, subject to stockholder approval and regulatory approvals.

MBF Healthcare is a Coral Gables, Fla., blank check company formed for the purpose of acquiring businesses in the health care industry. Critical Homecare Solutions is a Conshohoken, Pa., provider of comprehensive home infusion therapy and specialty infusion services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.