Capital One Closes Senior Secured Credit Facility for Nova Medical Centers

August 28, 2019

Source: CapitalOne

New York (August 28, 2019)Capital One announced today that it served as the sole lead arranger and administrative agent for a senior secured credit facility for Nova Medical Centers, an occupational medicine provider with 50 locations in Texas, Georgia, Tennessee and Indiana. The facility will enable the company to improve its cost of capital and provide flexibility for future growth. Capital One will also be providing a variety of treasury management and commercial card services to the company.

“Capital One demonstrated a strong understanding of our business model and was able to structure a transaction that supports our growth and corporate initiatives,” said Ulf Rohde, Nova’s founder and CEO. “Our goal is to achieve a national presence by 2023. This refinancing is an important step in this direction.”

Nova is a full service occupational medicine provider, focusing on treating employees injured at work and providing preemployment screenings. It supplies its services to over 100,000 employers across a wide range of sectors. To streamline the delivery of these services, Nova has developed its own cloud-based center management and electronic health record system, Occuflex®, which produces a seamless patient and customer experience while generating real-time management data. This highly scalable system can expand as the company adds customers and locations.

“Nova has a smart, experienced management team that is fully equal to the ambitious goals it has set for itself,” said Chip McCollum, managing director at Capital One Healthcare. “We were very pleased to play a part in its future growth.”

Capital One Healthcare is a leading provider of financial services to the industry. Customers across all healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical technology, 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. Additional information can be found at capital.one/healthcare.

 

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $254.5 billion in deposits and $373.6 billion in total assets as of June 30, 2019. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.