One Call Medical to launch $465 million credit facility on Wednesday

By Sara Rosenberg

New York, July 30 - One Call Medical Inc. has set a bank meeting for 10 a.m. ET on Wednesday to launch a proposed $465 million credit facility, according to a market source.

Jefferies & Co. and GE Capital Markets are leading the deal.

The facility consists of a $50 million six-year revolver and a $415 million seven-year covenant-light term loan, the source said.

Proceeds will be used to help fund the acquisition of MSC Care Management, a Jacksonville, Fla.-based provider of medical products and services to post-discharge and post-injury workers' compensation claimants.

Other funds will come from $210 million of unsecured debt that is being provided by GSO and equity.

One Call Medical is a Parsippany, N.J.-based provider of specialty services to insurance payers.

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