New York, New York, Jan. 25, 2024 (GLOBE NEWSWIRE) — 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.
###
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.
Attachment
Bay Street News
