Patterson Medical to get new debt for buyout by Madison Dearborn

By Sara Rosenberg

New York, July 1 – Patterson Medical plans on getting new debt financing to help fund its acquisition by Madison Dearborn Partners from Patterson Cos. Inc., according to a news release.

Deutsche Bank Securities Inc., Barclays, Bank of America Merrill Lynch and Jefferies Finance LLC are the leads on the debt.

Under the agreement, Patterson Medical is being bought for gross proceeds of around $715 million in cash.

Other funds for the transaction will come from equity.

Closing is expected in the fiscal second quarter, subject to regulatory requirements and other customary conditions.

Patterson Medical is a distributor of rehabilitation supplies and non-wheelchair assistive patient products to the physical and occupational therapy markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.