Convey Health adds $78 million term loan to acquire HealthSmart

By Wendy Van Sickle

Columbus, Ohio, Feb. 1 – Convey Health Solutions, Inc. entered an amendment to its first-lien credit agreement with Ares Capital Corp. as administrative agent on Tuesday to provide for a $78 million first-lien incremental term loan, according to an 8-K filing with the Securities and Exchange Commission.

Proceeds were used to finance the acquisition of HealthSmart International, a Waukegan, Ill.-based medical-equipment supplier.

The term loans will mature on Sept. 4, 2026 and will bear interest at Libor plus 475 basis points with a 0.75% Libor floor. The loans will amortize at a rate of 1% a year.

Convey Health is a specialized healthcare technology and services company. It is based in Fort Lauderdale, Fla.

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