Opus Bank is pleased to announce it provided:

Title: Kure
Amount: $7,500,000
Month: July
Year: 2015

Kure

Opus Bank’s Healthcare Banking division provides $7,500,000 Senior Credit Facility to Kure Pain Management, a portfolio company of New Harbor Capital

Overview of Transaction

  • On July 8th, 2015, New Harbor Capital announced the acquisition of majority interest of KURE Pain Management (“KURE”), a leading provider of administrative support services for affiliated multi-disciplinary outpatient pain management providers in the Mid-Atlantic.
  • Opus Bank (“Opus”) provided the credit facility to accomplish the acquisition and expand KURE’s services.
  • New Harbor Capital is a Chicago-based private equity firm focused on investing in lower middle-market, growth-oriented business services, healthcare, and education companies.

Significance of Transaction

  • The partnership between KURE and New Harbor Capital will combine extensive experience of principals with demonstrated clinical excellence, innovation, and patient-centric care.
  • The partnership will provide quality healthcare services to a larger population of people suffering from acute and chronic pain.
  • It is a key move for KURE to help them expand their existing footprint within Maryland and into adjacent states. The partnership allows KURE to explore complementary service lines.

Opus Bank's Role

  • As a strategic financial partner, the Opus Healthcare Banking division acted proactively and was integral to the implementation of New Harbor Capital’s business plan.

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