PRZOOM - /newswire/ -
Bethesda, MD, United States, 2010/02/02 - GE Capital, Healthcare Financial Services today announced it was administrative agent on a $125 million credit facility for U.S. HealthWorks, Inc. NYSE: GE
The loan refinances existing debt and provides additional capital to support the company’s growth and acquisition strategies. GE Capital Markets served as lead arranger.
U.S. HealthWorks is a leading national provider of occupational medicine and urgent care services. With 155 clinics and worksite centers in 15 states, and 2,000 employees including approximately 350 affiliated physicians, U.S. HealthWorks centers serve thousands of patients each day throughout the country.
"We appreciate the work of GE Capital's team to understand our needs and deliver a solution to help us continue to grow our business," said Daniel Crowley, chairman, president and CEO of U.S. HealthWorks. "While most of the attention today is on the challenges facing businesses, this financing allows us to accelerate our business strategy of acquiring outpatient occupational health clinics and delivering high quality, cost-effective health care for patients."
“U.S. HealthWorks has been a customer since 1999,” said Bob McCarrick, senior managing director for GE Capital, Healthcare Financial Services’ corporate finance group. "Our deep healthcare industry expertise and knowledge of their company enables us to continue meeting their needs by providing the flexibility and capital they require.”
About GE Capital, Healthcare Financial Services
With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.
About GE Capital
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapitalNews). GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. Visit ge.com/.
About U.S. HealthWorks
Based in Valencia, California, U.S. HealthWorks (ushealthworks.com) was founded in 1995 and is the second-largest operator of occupational health care centers in the nation. U.S. HealthWorks centers help employers control work-related injury costs through quality medical care and effective management of claims and lost work time, specializing in early return-to-work programs, injury prevention and wellness programs.