Ingenovis Health to launch $100 million add-on term loan on Tuesday

By Sara Rosenberg

New York, Nov. 29 – Ingenovis Health is scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a fungible $100 million add-on covenant-lite term loan due March 2028, according to a market source.

Citizens Bank and UBS Investment Bank are the leads on the deal.

Pricing on the add-on term loan is Libor plus 375 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

Original issue discount talk on the add-on term loan is not yet available, the source said.

Proceeds will be used to fund the acquisition of HealthCare Support, an Orlando, Fla.-based health care staffing platform.

Closing is expected in the first quarter of 2022, subject to regulatory approvals and other customary conditions.

Ingenovis is a tech-enabled platform for health care staffing backed by private investment firms Cornell Capital and Trilantic North America.

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