HEALTHCAREfirst has been refinanced
Lincoln International (“Lincoln”), a leading global mid-market investment bank, announced the successful completion of a refinancing of HEALTHCAREfirst, Inc. (“HCF” or the “Company”), a portfolio company of Pamlico Capital (“Pamlico” or the “Sponsor”). HCF is a leading provider of SaaS-based practice management and electronic medical record software, business intelligence tools and revenue cycle management services to small and mid-tier home health and hospice agencies. The Company offers home health and hospice agencies a comprehensive suite of products to facilitate efficient and accurate point-of-care interactions, while seamlessly integrating market-leading, back-office functionality into an agency’s daily operations, thereby leading to increased efficiency, better reporting and more precise regulatory compliance.
“We’re pleased to have worked with Pamlico and the HCF team on this important financing,” said Christine Tiseo, Managing Director of Debt Advisory Group. “In addition to better debt terms for the Company, Lincoln’s involvement enabled the Company’s management team to stay focused on the day-to-day operations of the business, all the while capitalizing on highly favorable debt market conditions.”
Scott Twibell, Managing Director and Co-Head of Technology and Media, added, “This transaction continues to build on our strong M&A and debt financing experience for technology-related businesses and marks our 22nd transaction in the sector within the past 12 months.”
Lincoln acted as the exclusive financial advisor to HCF and Pamlico, and privately placed a unitranche credit facility with a single lending institution. Proceeds from the financing were used to refinance HCF’s existing indebtedness with meaningfully improved terms and conditions compared to the prior debt capital structure, and to provide financial support for the Company’s ongoing growth plans and working capital needs. Lincoln worked closely with the Company and the Sponsor through all stages of the process, creating compelling offering materials, leading the due diligence process and supporting the Company with the financing agreement negotiations.
About HEALTHCAREfirst, Inc.
HEALTHCAREfirst, Inc. was founded in 1992 and is headquartered in Springfield, Missouri. The Company provides SaaS-based practice management and electronic medical record software, business intelligence tools and revenue cycle management services to ~4,000 small and mid-tier home health and hospice agencies across all 50 states, facilitates over 35 million patient visits per year and employs administrative, technical and support staff of approximately 200. More information about HEALTHCAREfirst can be found at www.healthcarefirst.com.
About Pamlico Capital
Founded in 1988 and operating out of Charlotte, North Carolina, Pamlico seeks buyout and growth equity investments in lower mid-market businesses with exceptional management teams. Pamlico employs an experienced team of 19 investment professionals who currently manage approximately $2 billion of assets on behalf of a highly seasoned group of institutional investors, including some of the leading pension funds, insurance companies, fund of funds, and endowments. Pamlico’s team has a singular focus on and significant investing experience in three core industries: business and technology services, communications and healthcare. Over 25 years of operation, Pamlico’s investment team has sourced and led hundreds of transactions in these core industries. More information about Pamlico can be found at www.pamlicocapital.com.
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