GenesisCare UK successfully completes refinancing transaction and raises financing for growth
GenesisCare UK, the UK’s leading private cancer care provider, is pleased to announce that it has successfully completed the refinancing transaction which replaces its current debt arrangements and provides for committed growth financing and working capital lines, which create the foundation for GenesisCare’s continued growth in the United Kingdom.
The transaction, which provides GenesisCare UK with the option of drawing on funds of up to £140m, follows a successful restructuring of the global GenesisCare Group, which concluded in February 2024. The new lending facilities will be provided by Pemberton Asset Management, one of Europe’s leading private credit managers and Barclays.
Justin Hely, GenesisCare’s CEO in the UK and Europe, said: “We are delighted to have completed our refinancing, which reinforces the confidence we and our partners have in the GenesisCare business and our growth strategy. Our focus remains on expanding our network of world class cancer care centres and delivering the highest possible standards of care to patients with a suspected or confirmed cancer diagnosis.”
Richard Meehan, Managing Director – Origination, at Pemberton: “We are delighted to be partnering with GenesisCare UK, who are at the forefront of cancer treatment in the UK. The Group’s use of advanced treatment methods and well invested facilities enable their clinicians to deliver the highest standard of care for patients. We look forward to supporting Justin and his team in realising their growth aspirations over the coming years”
Steve Fergus, Head of Healthcare at Barclays Corporate Banking, said: “We are pleased to be supporting the team at GenesisCare UK with this refinancing, and look forward to helping enable their continued success in the years ahead. This new relationship further underlines our ongoing commitment to invest for growth within this important sector.”
GenesisCare was advised by Houlihan Lokey and White & Case LLP, with diligence completed by EY and Candesic.
For more information about GenesisCare UK and its comprehensive cancer care services, please visit www.genesiscare.com/uk
