NEW YORK -- Audax Private Debt (“Audax”) announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support the formation of MDpanel (the “Company”) by Aquiline Capital Partners, a New York-based private investment firm. MDpanel is a new platform dedicated to the efficient delivery of medical opinions as part of the workers’ compensation insurance claims process.
Following the launch of MDpanel, California Medical Legal Specialists, LLC ("CMLS") and California Medical Evaluators Holdings, LLC ("CME"), two leading providers of support services for physicians performing qualified medical evaluations (QMEs) for workers' compensation claims, have also joined the platform. With the additions of CMLS and CME, MDpanel serves 250+ evaluation sites and has supported over a million evaluations across a variety of specialties including orthopedics, psychiatry, pain management, chiropractic, and internal medicine.
“The CMLS and CME teams have done impressive jobs building their respective businesses and solidifying their market leading positions to service qualified medical evaluators throughout California,” said Shehzad Ajmal, Managing Director at Audax Private Debt. “We’re excited to partner with Aquiline Capital Partners as they launch this new platform, bringing together two high-caliber, complimentary businesses that are poised to continue growing.”
“We are thrilled to have Audax’ support for this investment. The team worked closely alongside us throughout the process to provide flexible solutions that met our investment needs,” said Benedict Baerst, Partner at Aquiline Capital Partners. “We look forward to their partnership as we continue scaling the Company, providing the highest quality management services to even more physicians across our target markets.”
About Audax Private Debt
Based in New York, Audax Private Debt is a leading debt capital partner for North American middle market companies. Since its inception in 2000, Audax Private Debt has invested over $35 billion across more than 1,120 deals in support of over 275 private equity sponsors and has raised $28 billion in capital. The platform offers its clients a range of financing solutions, including first lien, stretch senior, unitranche, second lien and subordinated debt, as well as equity co-investments. With more than 60 investment professionals and over 190 employees, Audax Private Debt provides financing certainty, add-on investment capability, and the experience and collaborative approach to partner with private equity firms and their portfolio companies. For more information, follow us on LinkedIn.
Audax Private Debt is an integral part of Audax Group, a leading alternative investment manager with offices in Boston, New York, San Francisco, and London.