Feb 2023

Audax Private Debt Provides Financing to Support Cressey & Company and Health Enterprise Partners’ Investment in The InterMed Group

Audax Private Debt (“Audax”) announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support Cressey & Company (“Cressey”) and Health Enterprise Partners’ (“HEP”) acquisition of The InterMed Group (“InterMed” or the “Company”).

Headquartered in Alachua, FL, InterMed is a leading independent healthcare technology services platform, providing a comprehensive array of end-to-end healthcare technology and equipment management services to hospitals and health systems across the U.S. The Company provides critical services for both biomedical equipment, such as ventilators, infusion pumps, and defibrillators, and diagnostic imaging equipment, such as MRI, CT, and x-ray machines. InterMed customers include hospitals, imaging centers, veterinary hospitals, and other healthcare clients across the U.S.

“InterMed is a critical and valuable partner to its healthcare clients,” said Ryan Benedict, Managing Director at Audax Private Debt. “As hospitals and health systems deploy larger, more complex medical equipment fleets to deliver better quality care to patients, the InterMed team has done an outstanding job building the business by expanding its client base organically and through strategic acquisitions. We are excited to partner with the Cressey and HEP teams as they build upon InterMed’s momentum and help the Company accelerate its growth plan.”

“We are excited for the opportunity to partner with Audax Private Debt on this investment,” said Dave Rogero, Partner at Cressey. “The Audax team was collaborative, thoughtful, and a constructive partner throughout the entire financing process. We see a great opportunity for InterMed to offer comprehensive, complementary solutions that address healthcare organizations’ most pressing healthcare technology management needs.”

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