White Oak Healthcare Finance Closes Senior Credit Facility for Linden-Backed Virtus Pharmaceuticals

December 3, 2019

Source: White Oak Healthcare Finance, LLC

White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent on a senior credit facility for Virtus Pharmaceuticals (“Virtus”), a portfolio company of Linden Capital Partners (“Linden”). Proceeds were used to refinance existing debt and provide liquidity for strategic initiatives and working capital. 

“Virtus has a great team that has assembled a portfolio of differentiated products in underserved markets,” said Ross Eldridge, Managing Director at White Oak.  “We are excited to partner with both Virtus and Linden on this pivotal transaction, and we look forward to supporting their continued growth.”

Virtus is a specialty pharmaceuticals company with a nimble business model that enables execution efficiency, supply chain flexibility, and rapid speed to market.

“White Oak provided us with the flexible capital that we need at this stage of our growth,” said Vinod Melvani, CEO of Virtus.  “Having the support of Linden and a financing partner in White Oak that has real pharmaceutical domain expertise will help bolster our growth plans going forward.”

About Virtus Pharmaceuticals

Virtus is an asset light, fast growing, specialty pharmaceuticals company with global partnerships and access to multiple sales channels.  The company was founded in 2011 and has a diverse portfolio of differentiated generics, brands, medical food, supplements, and Rx-OTC products across formulation types.  Virtus markets approximately 40 product families in a variety of dosage forms including injection, liquids, oral solids, and powders for solution.  Based in Langhorne, PA with additional operations located in Bristol, PA, Virtus has an existing pipeline of late stage opportunities along with the capability to quickly execute on Business Development opportunities.  For more information, visit www.virtusrx.com.

About Linden Capital Partners

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on healthcare.  Founded in 2004, we have grown to become the country’s largest dedicated healthcare private equity firm by creating exceptional value for companies, business owners and investors. Our model of partnership with management and actively engaged operating partners has defined our firm and set the bar for others.  As a team, we have invested more than $2 billion in healthcare companies, helping to build strong platforms and thriving businesses. Today, we manage nearly $3 billion of commitments augmented by capital provided by our Limited Partners for larger transactions.  For more information, visit www.lindenllc.com.

About White Oak Healthcare Finance

White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments.

About White Oak Global Advisors

White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers.  For more information, visit www.whiteoaksf.com.