National Partners in Healthcare secures $125 million credit facility agented by Texas Capital Bank to finance growth

Rhea-AI Summary

National Partners in Healthcare (NPH), a leading healthcare organization specializing in anesthesiology services, announced its acquisition of Medstream Anesthesia Solutions, enhancing its regional presence in the Southeast, Mid-Atlantic, Northeast, Pacific Northwest, and Hawaii. This strategic acquisition is backed by a $125 million senior secured debt facility arranged by Texas Capital Bank, which closed on April 7, 2023. The financing aims to support NPH's growth and refinance existing debts. CEO Mike Saunders emphasized the importance of this acquisition in fortifying NPH's market leadership during uncertain credit market conditions. Texas Capital Bank also expressed its commitment to supporting NPH's transformation and growth.

Positive

• Acquisition of Medstream expands NPH's regional footprint into new markets.
• Secured $125 million senior secured debt facility enhances growth and refinancing capabilities.

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• None.

DALLAS, April 21, 2023 /PRNewswire/ -- National Partners in Healthcare ("NPH"), a national healthcare organization delivering best-in-class anesthesiology services and a portfolio company of Assured Healthcare Partners, has announced that Medstream Anesthesia Solutions ("Medstream") has joined NPH. Texas Capital Bank agented and arranged a $125,000,000 senior secured debt facility to support the acquisition, refinance existing debt and provide growth capital to NPH. The acquisition financing closed and funded on April 7, 2023.

"We are thrilled to partner with the physicians and staff at Medstream, as this combination expands NPH's footprint into the Southeast, Mid-Atlantic, Northeast, Pacific Northwest and Hawaii," said Mike Saunders, CEO of NPH. "In combination with NPH's existing operations in the southwestern U.S., we have created a national platform in anesthesia. We entrusted Texas Capital Bank to lead our acquisition financing during a time of uncertainty in the credit market and the team executed. This financing will support NPH's continued growth and further solidify our market leadership."

"It was a pleasure to partner with NPH to support its transformative acquisition of Medstream," said Texas Capital Bank Head of Corporate & Investment Banking Daniel Hoverman. "NPH's continued growth is a testament to its management team and its commitment to providing high-quality services. We are grateful for the confidence entrusted to our team and for the opportunity to help NPH achieve this key milestone."

About National Partners in Healthcare
NPH is a national healthcare organization delivering best-in-class anesthesiology services. NPH is dedicated to partnering with high-quality anesthesiologists and CRNAs providing the expertise, resources and long-term sustainable solutions to their medical practices. NPH's anesthesiology partners retain autonomy of their practice while collaborating with each NPH clinical team to achieve and deliver the highest quality patient care. For more information, visit www.nphllc.com.

About Texas Capital Bank
Texas Capital Bancshares, Inc. (NASDAQ: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank, a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital Bank has established commercial banking, consumer banking, investment banking and wealth management capabilities.

TCBI Securities, Inc., doing business as Texas Capital Securities, is a member of FINRA and SIPC and has registered with the SEC and other state securities regulators as a broker dealer. TCBI Securities, Inc. is a subsidiary of Texas Capital Bank. Securities and other investment products offered by TCBI Securities, Inc. are not FDIC insured, may lose value and are not bank guaranteed.

For more information, please visit www.texascapitalbank.com.

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SOURCE National Partners in Healthcare

FAQ

What is the recent acquisition involving Texas Capital Bank and TCBI?

Texas Capital Bank arranged a $125 million senior secured debt facility for National Partners in Healthcare to acquire Medstream Anesthesia Solutions, enhancing NPH's market presence.

When did National Partners in Healthcare close its financing deal?

The financing deal closed on April 7, 2023.

What will the $125 million debt facility support?

The debt facility will support the acquisition of Medstream, refinance existing debt, and provide growth capital to National Partners in Healthcare.

How does the acquisition affect Texas Capital Bank's role?

Texas Capital Bank plays a crucial role as the agent for the $125 million debt facility, facilitating National Partners in Healthcare's strategic acquisition during a challenging credit market.