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Siena Lending Group LLC Announces the Closing of a CDN$30 Million Credit Facility for Capital Health Partners
October 18, 2023
Source: Siena Lending Group LLC
Siena Lending Group LLC ("Siena") is pleased to announce the closing of a CDN$30 million credit facility to support the acquisition of Ottawa, Canada-based companies Ontario Medical Supply (“OMS”) and Royal Drugs, by Capital Health Partners (“CHP”). CHP will carry on and expand OMS’ medical service offering that targets the homecare patient population. Through its Royal Drugs pharmacy services business, CHP will continue to provide products and services to the community, physician and homecare markets.
Commencing operations in 1974 and eventually becoming part of Medical Pharmacies Group, OMS/Royal Drugs’ services include the supply of medical equipment, infusion therapy, specialty pharma drugs, and retail pharmacy operations.
Siena structured a creative financing solution that not only leveraged the asset values to assist with the acquisition but also to support working capital needs, through accordion facilities, as Capital Health Partners looks to grow into new markets and geographies. KPMG’s Deal Advisory Group was engaged to assist OMS/Capital Health Partners with the capital raise and structuring to support the acquisition.
Duane Morrison, Director – New Business Originations at Siena, explains “Our financing will allow the legacy OMS/Royal Drugs businesses to continue to service the growing demand for medical and pharmacy services to the homecare population. On behalf of the entire Siena deal team, we wish to the thank the company’s shareholders and management and KPMG for their confidence in us as Siena expands its strategic business financing solutions to support Canadian mid-market companies.”
Yves Portelance, CEO of Capital Health Partners said “We look forward to working with Siena as we grow our diversified pharmacy services, medical supplies, and equipment businesses. It was important to us to find a financial partner that understands our business and can support us as we build Capital Health Partners into a leading national platform, and we are confident we have that in our partnership with Siena.”
About Siena Lending Group:
Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. We operate across most industry sectors and provide senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions. Siena Healthcare Finance, a specialized division of Siena, is dedicated exclusively to providing financing within the healthcare sector.
Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.
Commencing operations in 1974 and eventually becoming part of Medical Pharmacies Group, OMS/Royal Drugs’ services include the supply of medical equipment, infusion therapy, specialty pharma drugs, and retail pharmacy operations.
Siena structured a creative financing solution that not only leveraged the asset values to assist with the acquisition but also to support working capital needs, through accordion facilities, as Capital Health Partners looks to grow into new markets and geographies. KPMG’s Deal Advisory Group was engaged to assist OMS/Capital Health Partners with the capital raise and structuring to support the acquisition.
Duane Morrison, Director – New Business Originations at Siena, explains “Our financing will allow the legacy OMS/Royal Drugs businesses to continue to service the growing demand for medical and pharmacy services to the homecare population. On behalf of the entire Siena deal team, we wish to the thank the company’s shareholders and management and KPMG for their confidence in us as Siena expands its strategic business financing solutions to support Canadian mid-market companies.”
Yves Portelance, CEO of Capital Health Partners said “We look forward to working with Siena as we grow our diversified pharmacy services, medical supplies, and equipment businesses. It was important to us to find a financial partner that understands our business and can support us as we build Capital Health Partners into a leading national platform, and we are confident we have that in our partnership with Siena.”
About Siena Lending Group:
Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. We operate across most industry sectors and provide senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions. Siena Healthcare Finance, a specialized division of Siena, is dedicated exclusively to providing financing within the healthcare sector.
Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.
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