Imperial Capital, LLC announced that it served as the exclusive financial advisor to Medical Guardian, LLC in the $105 million refinancing of their senior credit facility. The refinancing was led by funds advised by Apollo Capital Management LP and its affiliates. Apollo will become Medical Guardian's new primary financing partner for the Company's next stage of growth. The capital provided will be used to refinance their existing senior credit facility as well as fund growth costs associated with new subscriber acquisition and channel expansion.
"Medical Guardian is well positioned to take advantage of strong secular trends in the PERS industry with the aging US population and rapidly rising healthcare costs. The refinancing sets the stage for the Company to continue to grow its best in class DTC strategy while expanding its Retail and Healthcare footprint," said John E. Mack III, Executive Vice President and Co-Head of Investment Banking at Imperial Capital.
Medical Guardian is a recognized leader in developing, marketing, and servicing medical alert devices for seniors across the United States. The company provides a full suite of solutions that provide safety and protection both at home, and on-the-go. The Company is currently the 6th largest company in the personal emergency response system ("PERS") industry with a history of exceptional growth. The Company has built an industry leading new subscriber acquisition model highlighted by its diverse sales channels and particular expertise in direct-to-consumer (DTC) digital strategies. Medical Guardian has been named to Inc. Magazine's "America's Fastest Growing Private Companies – the Inc. 5000" seven years in a row.
"This is an exciting time for Medical Guardian as we expand our acquisition channels, grow our market share and deliver even more innovative products & services to our customers. This credit facility gives us the necessary capital needed to achieve on our financial plans. Imperial Capital did a tremendous job facilitating the process to close and found us a great team to partner with in Apollo. I couldn't be any happier with the outcome," said Geoff Gross, Founder and CEO of Medical Guardian.
About Medical Guardian, LLC
Founded in 2005, Medical Guardian is a leading provider of innovative medical alert systems that empower older adults to live a life without limits. A member of the National Aging in Place Council, Medical Guardian is headquartered in Philadelphia and provides nationwide support to over 130,000 aging Americans who are ready to take on the next chapter of life while remaining safe in their own home. Whether it's an in-home system, mobile device with GPS/Wi-Fi capabilities, or an all-in-one wearable medical alert smartwatch, Medical Guardian has the personal medical alert device to meet an array of needs and lifestyles. Learn more about Medical Guardian by visiting www.medicalguardian.com.
About Imperial Capital, LLC
Imperial Capital, founded in 1997, is a full-service investment banking firm with offices in Los Angeles, New York, London, Stamford, Chicago, Houston, and Tel Aviv. The firm currently employs over 200 professionals and offers a wide range of proprietary products and services to institutional investors, middle market companies and private equity firms. Imperial Capital provides institutional clients research and sales and trading of high yield and distressed debt securities, bank debt, convertible bonds, preferred stocks, and equities. The firm provides middle market companies and financial sponsors with capital markets, merger and acquisitions, capital structure, restructuring and recapitalization advisory services. More information about Imperial Capital can be found at www.imperialcapital.com.
