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.