Healogics® Announces New $240 Million Equity Investment to Support Future Growth
JACKSONVILLE, Fla., May 14, 2021 — Healogics®, the nation’s leading provider of world-class wound care, today announced a new $240 million equity investment, positioning the Company to continue its growth as a leading patient centric wound care center operator.
As part of the transaction, a group of new and existing investors, led by Clayton Dubilier & Rice, Partners Group, on behalf of its clients, and Northwestern Mutual, invested $75 million of common equity, and Marathon Asset Management invested over $165 million in new preferred stock. As a financially stronger company, Healogics will be able to accelerate its investment in its leading patient centric wound care center business positioning it for continued long-term success.
“This transaction demonstrates strong support and confidence in Healogics’s business and long-term growth plan,” said David Bassin, Chief Executive Officer of Healogics. “With this new capital, we are well-positioned to further improve our operational capacity to expand the reach of our essential care to patients in need.”
Mr. Bassin continued, “Despite the challenges of the COVID-19 pandemic, Healogics maintained strong operations, keeping nearly every center open and continuing to deliver high-quality outcomes for patients. I am incredibly proud of the strength and resiliency of our team and the continued strength of our hospital partner relationships, particularly in a year where healthcare, including advanced wound care, has been a central priority. We expect to become an even stronger partner and caregiver to the patients and communities we serve well into the future with our highly experienced and passionate professional team reinforced by the backing of our new and existing investors.”
The Company also secured a new $30 million Revolving Credit Facility and a new $370 million First Lien Term Loan, both led by J.P. Morgan’s Strategic Situations. The financing resulted in an extension of the Company’s debt maturity schedule, with no significant maturities prior to 2025.
Weil, Gotshal & Manges LLP served as legal advisor to Healogics and Evercore served as financial advisor. Additionally, FTI acted as an advisor to the Company.
Ropes & Gray LLP served as legal advisor to certain of the new investors and GLC Advisors & Co., LLC served as financial advisor.
Headquartered in Jacksonville, Fla., Healogics is the nation’s wound healing expert. Last year over 300,000 patients received advanced wound care through a network of over 600 Wound Care Centers. Healogics also partners with over 300 skilled nursing facilities to care for patients with chronic wounds and provides inpatient consults at more than 60 partner hospitals. As the industry leader, Healogics has the largest repository of chronic wound-specific patient data in the country. The Healogics Wound Science Initiative offers peer-reviewed research and advanced analytics in the pursuit of not only better outcomes but a better way to provide care.Back to All News