OHA is Administrative Agent & Lead Left Arranger for Acentra Health’s Private Refinancing

Rhea-AI Summary

Oak Hill Advisors (OHA) acts as Administrative Agent and Lead Left Arranger for Acentra Health's private refinancing, a Carlyle portfolio company. Acentra is a key player in providing technology solutions to government healthcare agencies. OHA has been a significant financier for Acentra's growth and acquisitions.

New York, New York, April 15, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as Administrative Agent and Lead Left Arranger for a unitranche facility supporting the refinancing of Acentra Health (“Acentra”), a portfolio company of Carlyle. Acentra is a leading provider of technology products and services to government healthcare agencies that are essential to administering Medicaid, Medicare and other health programs at the federal and state level, including claims processing, enrollment and data analytics. OHA is the largest holder of the new financing.

OHA first provided financing to Acentra in December 2021, to support Carlye’s acquisition of its predecessor company, CNSI, from Alvarez & Marsal Capital Partners. In December 2022, OHA once again engaged with Carlyle to lead the debt financing for CNSI’s acquisition of Kepro, creating Acentra Health. OHA also supported Acentra’s subsequent acquisition of Espyr, a provider of workplace mental health and wellbeing programs, in 2023.

“Since our initial investment in its predecessor business, Acentra has maintained a strong growth proposition and track record of performance,” said Eric Muller, Partner and Portfolio Manager. “We look forward to extending our partnership with Carlyle and the management team as the company expands its scope of service and continues delivering healthcare technology solutions that benefit the public sector.”

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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 attractive risk-adjusted returns. The firm manages approximately $63 billion of capital across credit strategies, including private credit, high yield bonds, leveraged loans, stressed and distressed debt and collateralized loan obligations as of December 31, 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 across market cycles.

With over 400 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 Acentra Health: Acentra Health, formed in 2023 by the merger of industry leaders CNSI and Kepro, combines public sector knowledge, clinical expertise, and technological ingenuity to modernize the healthcare experience for state and federal partners and their priority populations. From designing and developing advanced claims, encounter, and provider solutions that drive efficiency and cost savings to delivering clinically focused service models for care management and quality oversight, Acentra Health is accelerating better outcomes. Acentra Health is backed by Carlyle (NASDAQ: CG), a global investment firm.

About Carlyle: Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $426 billion of assets under management as of December 31, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. For more, follow Carlyle on LinkedIn and X.

FAQ

What role did Oak Hill Advisors (OHA) play in Acentra Health's private refinancing?

OHA served as the Administrative Agent and Lead Left Arranger for the unitranche facility supporting Acentra Health's refinancing.

Who is Acentra Health's parent company?

Acentra Health is a portfolio company of Carlyle.

What services does Acentra Health provide?

Acentra Health offers technology products and services to government healthcare agencies, focusing on Medicaid, Medicare, claims processing, enrollment, and data analytics.

What acquisitions has Acentra Health made recently?

Acentra Health acquired Espyr, a provider of workplace mental health and wellbeing programs, in 2023.

What is Eric Muller's role in this partnership?

Eric Muller is a Partner and Portfolio Manager at OHA, expressing confidence in Acentra Health's growth and performance.