CIT Group announced that CIT Corporate Finance served as Joint Lead Arranger in a $140 million senior secured credit facility for National Dentex (NDX), one of the largest dental lab services providers in the United States. NDX is a portfolio company of Welsh, Carson, Anderson & Stowe (WCAS), a private equity firm that specializes in the healthcare and information/business industries. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not disclosed.

"As the broadest dental lab network in the U.S., we are pleased to further expand our relationship with NDX and WCAS through this recent financing," said Steve Warden, President of CIT Corporate Finance, Healthcare. "This transaction underscores our expertise and commitment to the dental sector, as well as our ability to structure deals to support the capital needs of our middle market healthcare clients."

Steve Casper, Chief Executive Officer of National Dentex, said, "The U.S. dental laboratory services market continues to grow and diversify at a rapid rate. We needed a forward thinking partner to understand the unique capital needs of our business to help support our continued growth and expansion. CIT provided in-depth knowledge of the industry, valuable understanding of NDX's end markets, and demonstrated leadership. We look forward to further building this relationship."

National Dentex Corporation, the largest operator of dental laboratories in the United States, serves an active customer base of over 40,000 clinicians through its full service laboratories located across the U.S. and one Canadian Province.

Welsh, Carson, Anderson & Stowe (WCAS) was formed in 1979 and has specialized its investment activities in two industries, information/business services and healthcare. WCAS has raised and managed $20 billion in capital and has a current portfolio of over thirty companies.

CIT Corporate Finance provides lending, leasing and other financial and advisory services to the small business and middle market sectors, with a focus on specific industries, including: Business Services, Commercial Real Estate, Communications, Energy, Entertainment, Gaming, Healthcare, Industrials, Information Services & Technology, Restaurants, Retail, and Sports & Media.