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Fifth Street Finance Corp Agrees To Acquisition Of Healthcare Finance Group LLC


Wednesday, 8 May 2013 07:00am EDT 

Fifth Street Finance Corp announced that it has entered into a definitive agreement to acquire Healthcare Finance Group, LLC (HFG) as a portfolio company. HFG is a specialty lender providing asset-based lending and term loan products to the healthcare industry. Since its founding, HFG has financed in excess of $21 billion in receivables. To effect the acquisition, Fifth Street anticipates investing approximately $110 million and intends to finance the purchase with available liquidity, including operating cash and borrowings under Fifth Street's existing credit facilities. HFG's senior management team has an average of 24 years of healthcare finance or related industry experience and will provide continuing leadership to HFG going forward. Fifth Street expects that the HFG acquisition will be accretive to net investment income. To effect the acquisition, Fifth Street anticipates investing approximately $110 million and intends to finance the purchase with available liquidity, including operating cash and borrowings under Fifth Street's existing credit facilities. HFG's senior management team has an average of 24 years of healthcare finance or related industry experience and will provide continuing leadership to HFG going forward. Fifth Street expects that the HFG acquisition will be accretive to net investment income. Terms of the transaction were not disclosed. 

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