CIT Group Inc issued the following announcement on Feb. 19.
CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance unit served as joint lead arranger and administrative agent on the first-lien credit facility for the acquisition of KabaFusion, a leading provider of acute and specialty home infusion services, by Pritzker Private Capital.
Headquartered in Cerritos, California, KabaFusion was founded in 2010 by Sohail Masood, doctor of pharmacy, a pioneer in immunoglobulin infusion therapy (IVIG) with more than 25 years of experience in home infusion services. KabaFusion operates seven fully accredited specialty pharmacies strategically located in key markets, enabling the company to serve patients with a broad range of acute and chronic conditions in over 40 states.
"CIT's deep expertise and knowledge of the home infusion sector were extremely helpful in reaching a smooth and timely closing of this financing," said Michael Dal Bello, investment partner of Pritzker Private Capital.
"Success today requires expertise and agility," said William Douglass, managing director and group head of CIT's Healthcare Finance business. "We worked closely with the Pritzker Private Capital team to understand their priorities and craft a financing package that met their needs."
The acquisition financing package also included a privately placed second-lien credit facility.
CIT's Healthcare Finance unit, part of the Commercial Finance division, provides comprehensive financing and banking solutions for transactions involving middle-market healthcare companies across the U.S. By using a client-focused and industry-centric model, Healthcare Finance tailors its products and services to help clients meet their financing needs.
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Source: CIT Group Inc