25 June 2024 • 2 minute read
DLA Piper advises Hercules Capital in approximately US$150 million new term loan facility for NeueHealth
DLA Piper represented Hercules Capital, Inc., a leading private credit fund focused on venture and growth lending, in providing a secured loan facility for up to US$150 million to NeueHealth, a value-driven healthcare company.
The financing will be used to support NeueHealth’s strategic priorities and expand their capabilities in driving value for payors and providers and delivering high-quality care to consumers across the market.
NeueHealth is a healthcare company driven by the belief that all health consumers are entitled to high-quality, coordinated care. By aligning the interests of health consumers, providers, and payors, NeueHealth helps to make healthcare accessible and affordable to all populations across the ACA Marketplace, Medicare, and Medicaid.
“We were pleased to advise Hercules on one of their most complex transactions to date and combine the depth and breadth of our teams – spanning joint ventures, healthcare, insurance, and regulatory – to bring together this deal,” said Matt Schwartz, DLA Piper’s US Finance Practice group leader who led the deal team.
Parker Zangoei, partner on DLA’s Venture and Growth Lending team, added: “The successful closing of this facility highlights Hercules’ prowess at efficiently handling complex transactions. We were honored to serve as their advisor and look forward to further strengthening the partnership between Hercules and DLA Piper.”
In addition to Schwartz (San Diego) and Zangoei (San Diego, New York), the DLA Piper team included partners Jay Williams (New York), Russell Sass (Miami), David Kopans (Washington, DC), Stephen Schwab and Tonya Gauff (both in Chicago), and Christina Houston (Wilmington), and associates Justin Hewett (Houston), Lily Petrie and Dan Kagan (both in New York).
DLA Piper advises on all aspects of financing, across borders, sectors and financial products. The firm’s lawyers advise issuers, underwriters, selling shareholders, sponsors, arrangers, lead managers, originators, dealers, trustees and depositaries on a broad range of capital markets offerings, including equity, equity-linked and debt securities, structured and project financings and securitizations.
The financing will be used to support NeueHealth’s strategic priorities and expand their capabilities in driving value for payors and providers and delivering high-quality care to consumers across the market.
NeueHealth is a healthcare company driven by the belief that all health consumers are entitled to high-quality, coordinated care. By aligning the interests of health consumers, providers, and payors, NeueHealth helps to make healthcare accessible and affordable to all populations across the ACA Marketplace, Medicare, and Medicaid.
“We were pleased to advise Hercules on one of their most complex transactions to date and combine the depth and breadth of our teams – spanning joint ventures, healthcare, insurance, and regulatory – to bring together this deal,” said Matt Schwartz, DLA Piper’s US Finance Practice group leader who led the deal team.
Parker Zangoei, partner on DLA’s Venture and Growth Lending team, added: “The successful closing of this facility highlights Hercules’ prowess at efficiently handling complex transactions. We were honored to serve as their advisor and look forward to further strengthening the partnership between Hercules and DLA Piper.”
In addition to Schwartz (San Diego) and Zangoei (San Diego, New York), the DLA Piper team included partners Jay Williams (New York), Russell Sass (Miami), David Kopans (Washington, DC), Stephen Schwab and Tonya Gauff (both in Chicago), and Christina Houston (Wilmington), and associates Justin Hewett (Houston), Lily Petrie and Dan Kagan (both in New York).
DLA Piper advises on all aspects of financing, across borders, sectors and financial products. The firm’s lawyers advise issuers, underwriters, selling shareholders, sponsors, arrangers, lead managers, originators, dealers, trustees and depositaries on a broad range of capital markets offerings, including equity, equity-linked and debt securities, structured and project financings and securitizations.
