MidCap Financial Closes $150mm Senior Revolving Credit Facility to Trusted

BETHESDA, MD, January 4, 2023 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $150mm senior revolving credit facility to Trusted MidCo, LLC (“Trusted,” “Trusted Health,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size to up to $239mm. Proceeds from the MidCap Financial credit facility were used to refinance the Company’s prior credit facility and to provide for the business’ ongoing working capital needs.

About the Company

Trusted is the leading labor marketplace and workforce management platform for the healthcare industry. The Company was founded in 2017 with a focus on the largest profession in healthcare: nursing. Since then, the Company has taken a process that has been dominated by recruiters and phone calls and turned that into a fully digital experience, connecting nurses directly to job opportunities and facilitating everything that needs to happen in between—including handling benefits, payroll, onboarding, and compliance.

About MidCap Financial              

MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of September 30, 2022, MidCap Financial provides administrative or other services for over $43.6 billion of commitments*.  MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $523 billion as of September 30, 2022, in credit, private equity and real assets funds.

For more information about MidCap Financial, please visit http://www.midcapfinancial.com.

For more information about Apollo, please visit http://www.apollo.com.

*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV

Contact:

MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com