Marathon Asset Management Supports Acquisition Funding
Marathon Asset Management, a prominent global credit manager managing over $23 billion in assets, has successfully closed a senior-secured credit facility. This financing will facilitate H.I.G. Capital's acquisition of SkinCure Oncology Intermediate LLC.
Leadership Transition and Continuity
Under this new structure, the leadership team of SkinCure Oncology, driven by CEO Kerwin Brandt, will continue to oversee the company. They remain significant stakeholders, ensuring a smooth transition and ongoing commitment to the company's mission.
Advancements in Noninvasive Treatments
SkinCure Oncology is at the forefront of modern treatments, focusing on image-guided superficial radiation therapy (IG-SRT). This innovative, non-invasive therapy is primarily designed for patients suffering from nonmelanoma skin cancer (NMSC). Instead of traditional surgery, IG-SRT adopts a method that requires no incisions, allowing patients to maintain their daily routines without the worry of extensive cosmetic issues related to scarring.
Access and Impact on Patient Care
More than 100,000 patients have benefited from the GentleCure™ Experience, which is made available through over 500 physician partnerships nationwide. This extensive network showcases SkinCure's commitment to improving patient access and care options.
Expert Insight from Marathon
Marathon's Head of Direct Lending, Curtis Lueker, remarked on SkinCure Oncology's impressive track record in delivering quality outcomes. He highlighted the company's pivotal role in the industry and the strategic partnership with H.I.G. Capital as an exciting opportunity to broaden care options for NMSC patients.
Marathon's Financing Expertise
Marathon's Chairman and CEO, Bruce Richards, emphasized the strength of their integrated investment platform, combining the expertise of the Healthcare Finance and Direct Lending teams. This synergy enabled Marathon to present a thoughtful and efficient financing solution for H.I.G., a sponsor recognized for its excellence.
About Marathon Asset Management
Founded in 1998, Marathon Asset Management, L.P. specializes in both public and private credit markets. With $23 billion in assets, they have a diverse range of investment programs that encompass Direct Lending, Asset-Based Lending, and Opportunistic strategies. The firm, managed by Co-Founder & CEO Bruce Richards and Co-Founder & CIO Louis Hanover, comprises over 180 professionals across multiple global offices.
Frequently Asked Questions
What is the purpose of the senior-secured credit facility?
The facility will finance H.I.G. Capital's acquisition of SkinCure Oncology, supporting its future growth and development.
Who will continue to lead SkinCure Oncology?
Kerwin Brandt, the current CEO, and the executive team will continue to lead SkinCure Oncology as significant shareholders.
What treatment does SkinCure Oncology provide?
SkinCure Oncology specializes in non-invasive image-guided superficial radiation therapy (IG-SRT) primarily for nonmelanoma skin cancer.
How many patients have been treated with GentleCure™ Experience?
Over 100,000 patients have been treated using the GentleCure™ Experience, through a network of more than 500 physicians.
What kind of expertise does Marathon Asset Management have?
Marathon is renowned for its comprehensive approach to investment across both public and private credit markets, with extensive experience in financing solutions.
