Navicure/Zirmed eyes Oct. 3 launch for $670 million credit facilities

By Sara Rosenberg

New York, Sept. 14 – Navicure Inc./Zirmed Inc. is tentatively scheduled to hold a bank meeting in New York on Oct. 3 to launch $670 million of credit facilities, according to a market source.

Antares Capital is the lead on the deal.

The facilities consist of a $50 million five-year revolver, a $435 million seven-year covenant-light first-lien term loan and a $185 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the combination of Navicure, an existing Bain portfolio company, with Zirmed.

Atlanta-based Navicure and Louisville, Ky.-based Zirmed are providers of integrated cloud-based medical claims management and patient payment solutions.

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