Capital One announced that it served as sole lead arranger for a $213 million senior credit facility for BayMark Health Services, a portfolio company of Webster Capital. The facility will be used to refinance an existing loan and to support future expansion efforts. BayMark operates the second-largest opioid treatment program in the United States and is currently treating over 25,000 patients each day in 17 states using several clinical care models.
“Over the years, Capital One has accumulated extensive expertise in financing behavioral health service providers, whether it is eating disorder or substance abuse treatment,” said Al Aria, Senior Managing Director at Capital One Healthcare. “We are happy to make this expertise available to BayMark through Webster Capital.”
“We believe that our time-tested programs can make an important contribution to alleviating the impact of the opioid epidemic that has swept the country,” said David K. White, Ph.D., the company’s CEO. “Capital One understood the value of our unique treatment programs and structured the loan to accommodate our growth.”
This is the second transaction that Capital One has financed for Webster Capital in the past six months. “It is a pleasure working with a lender who really understands our businesses and their potential,” said David Malm, Co-Managing Partner at Webster. “We appreciate both the certainty of execution Capital One provides as well as its responsiveness.” Founded in 2003, Webster is a leading middle-market private equity firm focused on acquiring companies in niche markets within the healthcare services and branded consumer sectors.
Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.