Atlanta, Georgia - Edge Healthcare Partners is pleased to announce that Lafayette, Louisiana based Schumacher Group (“SG” or the “Company”), a leading provider of emergency medicine management services, has completed a debt recapitalization with new and existing lenders. The new senior credit facilities include a $40 million five-year revolving credit facility and an $80 million five-year amortizing term loan. Proceeds of the transaction and excess cash on hand were used to repay existing debt. Availability under the revolver, which was undrawn at closing, can be used for general corporate purposes, including working capital needs, acquisitions, joint ventures or other investments as permitted under the agreement. Edge Healthcare Partners served as the exclusive financial advisor to SG.
“We were honored to work with Schumacher Group on this new credit agreement, which extends the Company’s debt maturity to 2019, meaningfully lowers its interest rate and provides enhanced financial flexibility to capitalize on existing and future growth opportunities,” said Bryan Pope, Partner of Edge Healthcare Partners. “We believe this transaction represents another important milestone in the growth of Schumacher Group and further validates the value added services the Company provides to its expanding client base.”
About Schumacher Group
Founded in 1994, SG is a leading national provider of facility-based outsourced physician services. The Company provides emergency medicine, hospital medicine and other services to approximately 250 facilities throughout the United States. It’s complement of services include staffing, recruiting, scheduling, contract management, practice management, billing and collecting, risk management, clinical consulting and training, among others. The focus of these comprehensive services is to improve the operational efficiency, reduce the wait times and increase the productivity of a hospital with the ultimate goal of improving patient satisfaction and enhancing the quality of care delivered. The Company’s 3,000 physicians, nurse practitioners and physicians assistants provide care to over 4 million patients annually. For more information, visit the SG website, www.schumachergroup.com
About Edge Healthcare Partners
Edge Healthcare Partners is an independent Atlanta based investment banking firm focused on providing merger and acquisition services to leading private and public healthcare companies and private equity firms. Edge Healthcare Partners also assists companies with raising capital for growth, acquisitions, recapitalizations, going-private and management buy-out transactions The professionals of Edge Healthcare Partners have over 65 years of collective investment banking experience and have completed more than 100 transactions across the entire spectrum of healthcare including healthcare services, healthcare information technology, distribution and life sciences. Securities are offered through Edge Corporate Finance, Member FINRA and SIPC. For more information, visit https://www.edgehcp.com/.
