NEW YORK, March 17, 2017 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (NASDAQ: PSEC ) (“Prospect”) announced today that Prospect recently purchased $38 million of first lien senior secured floating rate notes issued by Memorial MRI & Diagnostic, L.L.C. (“MMRI”), a portfolio company of Baymark Partners (“Baymark”). Based in Dallas, Texas, Baymark is a private equity firm focused on middle-market companies in the business and healthcare services industries.
Founded in 2001, MMRI is a provider of multi-modality diagnostic imaging and pain management services with six facilities operating in Houston. MMRI provides patients with a comprehensive healthcare solution, encompassing facilities and equipment, highly trained technicians, and streamlined payment processing. MMRI is certified by the American College of Radiology.
“The Prospect team demonstrated a strong knowledge of healthcare services, worked within our demanding timetable, and delivered a tailored financing solution for MMRI,” said Anthony Ludlow, Managing Director of Baymark. “We greatly enjoyed our experience working with Prospect and look forward to our next transaction with Prospect.”
“Prospect is pleased to support the growth of MMRI in the Houston and overall Texas markets,” said David Moszer, Managing Director of Prospect Capital Management L.P. “MMRI’s services in the imaging and diagnostic market provide high quality medical services in a low-cost, non-hospital setting.”
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation ( www.prospectstreet.com ) is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect’s control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.
For further information, contact: Grier Eliasek, President and Chief Operating Officer grier@prospectstreet.com Telephone (212) 448-0702
