Mednax expands credit facility by $400 million, may increase it more

By Wendy Van Sickle

Columbus, Ohio, June 9 – Mednax Inc. has expanded its credit facility to $1.9 billion from $1.5 billion, the company announced in a Tuesday press release.

The credit facility, which was refinanced in October 2014, now consists of a $1.7 billion unsecured revolving credit facility and a $200 million unsecured term loan.

Mednax said it may further increase the total credit facility to up to $2.2 billion on an unsecured basis, subject to the satisfaction of specified conditions.

After its May 18 purchase of Virtual Radiologic, an Eden Prairie, Minn.-based radiology practice and developer of radiologist workflow technology, Mednax said its total borrowings under the credit facility were about $1.3 billion.

Mednax is a Sunrise, Fla.-based medical group that provides neonatal, maternal-fetal and pediatric physician sub-specialty services as well as anesthesia services.

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