Medical Guardian LLC took part in a $105 million refinancing of its senior credit facility. Imperial Capital LLC served as the exclusive financial advisor, and the refinancing was led by funds advised by Apollo Capital Management LP and its affiliates. Apollo will become Medical Guardian's new primary financing partner for the company's next stage of growth. The capital provided will be used to refinance their existing senior credit facility as well as fund growth costs associated with new subscriber acquisition and channel expansion.
"Medical Guardian is well positioned to take advantage of strong secular trends in the PERS industry with the aging U.S. population and rapidly rising healthcare costs,” said John E. Mack III, executive vice president and co-head of investment banking at Imperial Capital. “The refinancing sets the stage for the company to continue to grow its best in class DTC strategy while expanding its retail and healthcare footprint.”
Medical Guardian develops, markets and services medical alert devices for seniors across the United States. The company provides a full suite of solutions that provide safety and protection both at home, and on-the-go.
"This is an exciting time for Medical Guardian as we expand our acquisition channels, grow our market share and deliver even more innovative products and services to our customers,” said Geoff Gross, founder and CEO of Medical Guardian. “This credit facility gives us the necessary capital needed to achieve on our financial plans. Imperial Capital did a tremendous job facilitating the process to close and found us a great team to partner with in Apollo. I couldn't be any happier with the outcome.”