OHA is the Lead Left Arranger of Greenway Health’s Private Unitranche Financing
25 Gennaio 2024 - 6:17PM
Oak Hill Advisors (“OHA”) served as the Lead Left Arranger of a
private unitranche financing for Greenway Health, a provider of
electronic health record and practice management solutions to the
U.S. ambulatory market. OHA committed to half of the $375 million
term loan used to refinance the company’s maturing syndicated first
lien debt.
OHA’s industry-specialist investment team model
positioned it to quickly and confidently diligence the opportunity,
with its speed being a meaningful factor in closing the
transaction. OHA is one of the earliest investors in software
credit, having deployed over $30 billion in both liquid and private
financings for over 130 portfolio companies since 2004, and
maintains a distinctive understanding of healthcare information
technology through its historical investments and ongoing coverage
of businesses similar to Greenway Health.
“This refinancing exemplifies the many benefits
of direct lending: the flexibility, the speed, the certainty,” said
Alan Schrager, Portfolio Manager and Senior Partner at OHA. “We
believe that Greenway Health is well-positioned for scalable and
profitable growth, and we look forward to helping advance the
company’s execution.”
This transaction is one of several recent
private solutions in which OHA committed in size to refinance
upcoming maturities in syndicated markets. We believe that it is
exemplary of the current evolution in financing markets with
ongoing constraints in syndicated markets driving increased demand
for private financings by larger, historical issuers in syndicated
markets. OHA expects this financing opportunity to continue to grow
in 2024 for high-quality borrowers to address near-term
maturities.
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About OHA: Oak Hill Advisors (OHA) is a
leading global credit-focused alternative asset manager with over
30 years of investment experience. OHA works with institutions and
individuals and seeks to deliver a consistent track record of
risk-adjusted returns with downside focus. The firm manages
approximately $63 billion of capital across credit strategies in
commingled funds, collateralized loan obligations and single
investor mandates as of September 30, 2023. OHA’s emphasis on
long-term partnerships with companies, sponsors and other partners
provides access to a proprietary opportunity set allowing for
customized credit solutions with strength across all market
cycles.
With over 420 experienced professionals across
six global offices, OHA brings a collaborative approach to offering
investors a single platform to meet their diverse credit needs. OHA
is the private markets platform of T. Rowe Price Group, Inc.
(NASDAQ – GS: TROW). For more information, please visit
oakhilladvisors.com.
About Greenway Health: Greenway Health
provides electronic health records (EHR), practice management, and
revenue cycle management solutions that help practices in multiple
specialties grow profitably, remain compliant, work more
efficiently, and improve patient outcomes. Its team of clinical,
financial, and technology experts serves as trusted advisors,
committed to enabling successful providers, empowering patients,
and building healthier communities. Greenway works with thousands
of providers across multiple specialties, translating into millions
of lives touched daily by its solutions. For more information on
Greenway and its holistic solutions,
visit www.greenwayhealth.com, call 877-537-0063, or follow
Greenway on LinkedIn, X, Facebook, and Instagram.
- OHA is the Lead Left Arranger of Greenway Health’s Private
Unitranche Financing
Kristin Celestino
Oak Hill Advisors, LP
817-215-2934
kcelestino@oakhilladvisors.com
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