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.