Fifth Street Arranges Senior Secured Credit Facilities Supporting the Recapitalization of Ob Hospitalist Group, Inc.
July 05 2016 - 7:00AM
Fifth Street Asset Management Inc. (NASDAQ:FSAM) (“FSAM”) announced
today that its affiliate, Fifth Street Management LLC, served as
Administrative Agent, Joint Lead Arranger and Joint Bookrunner for
senior secured credit facilities supporting the recapitalization of
Ob Hospitalist Group, Inc. (“OBHG”). Headquartered in
Mauldin, SC, OBHG is the leading provider of 24/7, onsite
obstetrics hospitalist programs to hospitals in the U.S. The
financing included investments from Fifth Street Finance Corp.
(NASDAQ:FSC), Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR)
and other Fifth Street investment vehicles.
OBHG is sponsored by a fund in the Private Equity Group of Ares
Management, L.P. (NYSE:ARES). This is the second
financing that Fifth Street has led in support of portfolio
companies of Ares Management, L.P. funds in the last 12 months.
“OBHG has a strong value proposition that allows for improved
patient outcomes, increased revenue and reduced costs for partner
hospitals, as well as enhanced operational efficiencies. As a
result, OBHG has become a leading provider and a valued partner to
hospitals across the nation,” noted Sunny K. Khorana, Managing
Director, Head of Sponsor Coverage at Fifth Street, adding, “OBHG’s
primary mission is focused on elevating the standards of women’s
healthcare by providing patients and their families greater access
to quality obstetric care. We are thrilled to support the
company’s management, as well as our partners at Ares, by making
this investment to help the company continue to expand and grow
market share.”
About Ob Hospitalist Group, Inc.
Ob Hospitalist Group (OBHG) began in 2006 with a vision to
elevate the quality and safety of women’s healthcare. Today,
Greenville, SC-based OBHG leads the industry in developing and
managing on-site OB/GYN hospitalist programs staffed with Board
Certified physicians 24 hours a day, 365 days a year. In
partnership with hospitals, nursing staff, physicians and
hospitalists we have developed a unique, comprehensive, financially
viable OB/GYN hospitalist program that serves women, newborns, and
their families. For further information about Ob Hospitalist
Group please visit www.OBHG.com.
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a nationally
recognized credit-focused asset manager. The firm has over $5
billion of assets under management across two publicly-traded
business development companies, Fifth Street Finance Corp.
(NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR), as well as multiple private investment
vehicles. The Fifth Street platform provides innovative and
customized financing solutions to small and mid-sized businesses
across the capital structure through complementary investment
vehicles and co-investment capabilities. With over an 18-year
track record focused on disciplined credit investing across
multiple economic cycles, Fifth Street is led by a seasoned
management team that has issued billions of dollars in public
equity, private capital and public debt securities. Fifth
Street's national origination strategy, proven track record and
established platform are supported by nearly 60 professionals
across locations in Greenwich and Chicago. For more
information, please visit fsam.fifthstreetfinance.com.
Forward-Looking Statements
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of the company. Words such as “believes,”
“expects,” “estimates,” “projects,” “anticipates,” and “future” or
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to
the inherent uncertainties in predicting future results and
conditions. Certain factors could cause actual results to
differ materially from those projected in these forward-looking
statements, and these factors are identified from time to time in
the company’s filings with the Securities and Exchange
Commission. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACT:
Investor Contact:
Robyn Friedman, Executive Director, Head of Investor Relations
(203) 681-3720
ir-fsam@fifthstreetfinance.com
Media Contact:
James Golden / Andrew Squire
Joele Frank Wilkinson Brimmer Katcher
(212) 355-4449
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