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ScionHealth to launch $450 million term loan B on Thursday
By Sara Rosenberg
New York, Dec. 1 – ScionHealth (Knight Health Holdings LLC) will hold a lender call at 1 p.m. ET on Thursday to launch a $450 million seven-year senior secured term loan B, according to a market source.
Barclays is the left bookrunner on the deal.
The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.
Proceeds will be used to fund the acquisition of Kindred Healthcare’s long-term acute care business and 18 of LifePoint Health’s community hospitals and associated health systems.
ScionHealth is a Louisville, Ky.-based health care services company being formed in connection with the acquisition by LifePoint of Kindred.
The launch of ScionHealth and the acquisition of Kindred are expected to be completed by the end of the year.
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