Chicago, IL – NXT Capital announced today that it closed a senior credit facility in support of Cressey & Company’s new partnership with Paradigm Health. The Company’s existing investor, Havencrest Capital Management, also invested alongside Cressey.
NXT Capital acted as Sole Lead Arranger, Sole Bookrunner, and Administrative Agent on this transaction.
“We are excited to partner with NXT Capital on this transaction given their proven track record in supporting the growth of leading healthcare companies,” said Ryan Moseley, Partner at Cressey & Company. “We look forward to collaborating with NXT on Paradigm’s next phase of growth and its commitment to delivering high-quality and compassionate care to patients.”
Headquartered in Indianapolis, IN, and founded in 2013, Paradigm Health is one of the largest providers of hospice and palliative care services across Indiana. Paradigm Health’s mission is to provide above and beyond care for its patients and their caregivers and families.
Cressey & Company LP is a private investment firm focused on building leading healthcare services and information technology businesses. With a history spanning 45 years, the Cressey team is one of the most experienced and successful in the healthcare private equity field.
Havencrest Capital Management is an investment manager of healthcare-focused private equity funds with more than $600M of assets under management (AUM). With its unique approach to partnering with founder-owned healthcare companies with EBITDA between $3M – $15M+, the Havencrest team has a successful track record in building leading companies that are changing the way healthcare is delivered in America.
NXT Capital provides structured financing solutions through its Direct Lending group and targets U.S.-based borrowers with EBITDA between $5 million and $50 million. Since NXT Capital’s inception in 2010, their Direct Lending team has closed over $32 billion in loan commitments in more than 520 platform transactions. NXT Capital is based in Chicago with offices in Atlanta, Dallas, and New York and is the direct lending focused wholly-owned subsidiary of ORIX Corporation USA.