Monroe Capital Participates in New Credit Facility to RadNet Management, Inc.
Chicago, IL, March 9, 2006
Monroe Capital LLC announced its participation as a co-lender with General Electric Capital Corporation, as agent, and other co-lenders in a new $160 million senior secured credit facility for the benefit of RadNet Management, Inc. RadNet Management, Inc. will use the facility to refinance existing indebtedness and provide ongoing working capital.
RadNet Management, Inc., a wholly-owned subsidiary of Primedex Health Systems, Inc. (“Primedex”) (OTC: PMDX.OB), is the leading provider of outpatient diagnostic imaging services in southern California. The company operates 34 multi-modality facilities and 23 single-modality facilities located throughout California. The company’s multi-modality facilities offer various diagnostic imaging services, including magnetic resonance imaging (MRI), computed tomography (CT), position emission tomography (PET), nuclear medicine, mammography, ultrasound, diagnostic radiology, X-ray, and fluoroscopy.
Monroe Capital is a specialty finance company devoted to providing innovative capital to middle-market businesses. Monroe Capital specializes in originating, structuring and providing customized financing to corporate, real estate, media and communication, and asset-based borrowers based in the U.S. and Canada in amounts of $3 million to $40 million, with an ability to agent and syndicate larger transactions. These investments include senior and junior secured debt as well as bridge loans to companies in need of immediate access to capital; flexible acquisition facilities for acquirers of opportunistic assets; mezzanine or last-out second loans that stretch a company’s debt capacity; acquisitions of distressed debt; and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. To learn more about Monroe Capital, visit www.monroecap.com.