ICG refinances Dutch medical group

The firm is the latest debt provider to look to the healthcare sector for financing opportunities.

Intermediate Capital Group (ICG) has provided refinancing for Dutch-based medical clinic network Bergman Clinics. The refinancing consists of a facility of up to €140 million.

According to a company announcement, in addition to Bergman’s existing debt being refinanced, preferred shareholders in the company are being bought out. Further terms of the financing could not be determined by time of publication.

The refinancing of Bergman means that ICG is continuing the trend of private debt financiers looking to the healthcare sector this year. Firms such as Partners Group have previously told PDI the sector is attractive for debt financing due to its growth potential and the presence of a number of attractive companies.

Additionally, the likes of CVC and Permira have both made healthcare-focused investments this year. Just last week, ICG and Goldman Sachs participated in another pharmaceutical refinancing, providing a facility to Synerlab.

The financing is being provided by ICG’s Senior Debt Partners Fund II, an offering which raised €3 billion following its launch in 2014, according to PDI data. The firm launched a successor fund this year with a fundraising target of €3 billion.

A spokesman for ICG declined to comment beyond the company’s announcement.