Investment by Prospect Capital Corporation for Growth in Healthcare

Prospect Capital Corporation Provides Significant Investment

In an exciting development for the healthcare industry, Prospect Capital Corporation (“Prospect”) (NASDAQ: PSEC) has recently completed an impressive $18 million investment in The Ridge. This collaboration involves a first lien senior secured term loan, a first lien revolving credit facility, and an equity investment, highlighting Prospect's commitment to fostering growth in the addiction treatment sector.

The Ridge: Leading the Way in Addiction Treatment

The Ridge is a distinguished physician-led facility focused on providing comprehensive addiction treatments. It offers a luxurious residential environment where patients receive personalized care tailored to their specific needs. The range of services includes everything from detoxification to outpatient care, blending evidence-based clinical approaches with holistic therapies to enhance recovery.

Prospect's Commitment to Healthcare

David Moszer, Managing Director at Prospect, expressed enthusiasm about this partnership, emphasizing the strategic value of their investment. According to Moszer, “Prospect is pleased to provide growth capital to The Ridge to work in collaboration with Thesis Capital Partners and The Ridge management team.” This partnership is particularly significant as The Ridge is dedicated to meeting the needs of professionals within the high-end substance abuse market, reinforcing the facility’s position as a leader in its field.

Support from Thesis Capital Partners

In addition to Prospect's involvement, Thesis Capital Partners plays a crucial role in this investment journey. Ian J.H. Reynolds, Founder & Managing Partner of Thesis Capital Partners, shared his appreciation for Prospect's swift response and the value-added capital they have provided. He recognizes the uniqueness of The Ridge’s combination of clinical excellence, privacy, and professionalism. Together, they aim to enhance the organization's ability to deliver high-quality, transformative care for those struggling with addiction.

About Prospect Capital Corporation

Prospect Capital Corporation is structured as a business development company that specializes in lending and investing in middle-market, privately-held businesses. Its primary objective is to generate current income while also seeking long-term capital appreciation for its investors. The company’s commitment to its investment strategy supports various enterprises, fostering growth in various sectors.

Understanding Thesis Capital Partners

Founded in Houston, Texas, Thesis Capital Partners focuses on investing in family-owned businesses spread across the United States. By collaborating with exceptional entrepreneurs and management teams, Thesis aims to support operational transformation and boost business growth across a multitude of industries. Their strategic approach complements the investment made in The Ridge, ensuring effective management during its growth phase.

Frequently Asked Questions

What is the main focus of The Ridge?

The Ridge is focused on providing personalized addiction treatment in a luxurious setting, offering a mix of clinical and holistic services.

How much did Prospect Capital Corporation invest in The Ridge?

Prospect Capital Corporation invested approximately $18 million into The Ridge, including loans and equity investments.

Why is Prospect's investment significant?

This investment signifies Prospect's commitment to supporting crucial healthcare services, particularly in the addiction treatment space aimed at professionals.

Who partners with Prospect on this investment?

Thesis Capital Partners collaborates with Prospect in this investment, providing additional support for The Ridge's operational growth.

What is the mission of Thesis Capital Partners?

The mission of Thesis Capital Partners is to invest in family-owned businesses, aiding in their transformation and growth through operational excellence.

About The Author

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