CIT Group’s Healthcare Finance business was sole lead arranger on $55.5 million in financing for New Day Healthcare.
New Day Healthcare partners with home health and hospice providers in the post-acute care arena to care for 7,500 patients across Missouri, Kansas, Illinois and Texas. Businesses include the operations of Texas-based AssistCare, Home Care Partners of Texas and New Age Hospice as well as Midwest-based Phoenix Home Care and Hospice.
The financing consists of a senior secured loan, a delayed draw term loan and a revolving line of credit. Read more.
