NEW YORK, NY–(Marketwired – Jun 13, 2016) – Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced today that Prospect has invested $17.0 million in first lien senior secured floating rate debt issued by Inpatient Care Management Company, LLC (“Inpatient Care”).
Founded in 2007, Inpatient Care and affiliates provide general surgery services to hospitals with a focus on emergency care. Inpatient Care surgeons are available to meet on-call demands for the community hospitals served by Inpatient Care. Inpatient Care’s surgicalist program addresses the workflow challenges in the emergency room department with an outsourced, dedicated staff of on-call surgeons. The company’s business model provides a comprehensive solution to emergency surgical care that seeks to reduce hospital length of stays, thereby benefiting patients, hospitals, and payors.
“Inpatient Care offers hospitals a differentiated staffing solution enabling emergency rooms to operate with improved efficiency and patient outcomes,” said David Moszer, a Managing Director of Prospect Capital Management L.P. “We are pleased to provide financing to Inpatient Care to support the company’s initiatives. Prospect is an experienced lender to value-added healthcare services companies, and we seek opportunities to support other companies in the healthcare services industry.”
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect’s control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.
