Surgery Center: Mezzanine debt will help finance NovaMed acquisition

By Lisa Kerner

Charlotte, N.C., Feb. 1 - Surgery Center Holdings Inc. will use $53.8 million of mezzanine financing from THL Credit Inc. to help fund its acquisition of NovaMed Inc., according to a schedule 13D filed by NovaMed with the Securities and Exchange Commission on Tuesday.

The company also plans to get a new $250 million senior secured credit facility to fund the transaction consisting of a $230 million 53/4-year term loan and a $20 million five-year revolver.

Jefferies Finance LLC is the lead bank on the deal.

The acquisition is expected to close in the second quarter, the filing said.

Surgery Partners is a Tampa, Fla.-based acquirer, developer and manager of free-standing ambulatory surgical centers. NovaMed is a Chicago-based operator, developer and acquirer of ambulatory surgery centers.

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