Executive Health Resources to launch $170 million facility on Friday

By Sara Rosenberg

New York, Oct. 7 - Executive Health Resources Inc. is scheduled to hold a bank meeting on Friday to launch its proposed $170 million credit facility, according to a market source.

Credit Suisse is the lead bank on the deal.

The facility consists of a $10 million revolver and a $160 million term loan, the source said.

Proceeds will be used to pay a dividend to ABRY Partners and repay bank debt.

Executive Health Resources is a Newton Square, Pa.-based provider of specially trained, technology-supported physician advisors to hospitals.

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