HCPro secures a $27 million senior credit facility from GE Commercial Finance.GE Commercial Finance Global Media & Communications has provided a $27 million senior credit facility for HCPro Inc., publisher of more than 60 newsletters and sponsor of seminars and audio conferences on healthcare regulations and the healthcare industry in the U.S. GE Commercial Finance was the sole lender and administrative agent for the facility, which closed on March 4, 2005. The Riverside Co., which describes itself as "the leading private equity firm investing in premier companies at the smaller end of the middle market," owns about 63 percent of HCPro. Bariston Partners LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Boston-based merchant bank, owns about 8 percent. Management and some individuals own the rest of the company. That ownership structure was organized in 2002 as part of a management-led buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. of the company from its founders (NL/NL 12/31/02). Loan to refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. debt and to finance future acquisitions The new financing will be used to refinance existing debt and to finance future acquisitions, said Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. Fitzsimmons, managing partner of Riverside and a board member of HCPro. He did not disclose HCPro's debt prior to raising the new loan. David Harrington Harrington can refer to: Places in the United Kingdom:
The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real , said, "Strong growth and an industry-leading platform have positioned HCPro to broaden their share of the growing healthcare information and compliance market, and we're we're Contraction of we are. we're we are looking forward to the opportunity to help the company realize this objective." HCPro has made seven acquisitions in the last year and plans as many as seven more in 2005, Fitzsimmons said. HCPro's revenue has grown about 20 percent annually since Riverside acquired it, to about $35 million in revenue in 2004. HCPro has about 200 employees. HCPro, 200 Hoods Lane, Marblehead, MA 01945, 781-639-1872, fax 781-639-2982, www.hcpro.com Riverside, Terminal Tower, 50 Public Square, #4000, Cleveland, OH 44113, 216-344-1040, fax 216-344-1330, www.riversidecompany.com |
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