Monroe healthcare finance unit expands to Dallas

Monroe Capital, which launched its healthcare finance affiliate in November, has hired managing director Glenn Flinn to oversee the firm’s new office in Dallas, Texas. 

Monroe Capital’s healthcare finance affiliate has tasked new managing director Glenn Flinn with establishing a new office in Dallas, the firm announced in a statement.

Flinn has experience in originating loans in the healthcare industry, having worked as a director at CapitalSource Finance, and previously at Heller Financial, GE Capital and Healthcare Financial Partners, according to the firm.

“He will be responsible for relationship sourcing and originating new business opportunities within the healthcare industry,” said Monroe Capital chief executive officer Ted Koenig in a statement. “We have seen tremendous opportunity to expand our commitment to this market.”

Monroe launched MC Healthcare Finance in November. The La Jolla, California-based finance affiliate is led by former head of Meridian Healthcare Finance James Irwin and Terry Caddy, who helped found three previous asset based lending firms specialising in the healthcare industry.

MC Healthcare Finance offers asset based financing to lower mid-market companies in the healthcare industry. The firm provides revolving lines and term loans, typically between $1 million and $10 million, to hospitals, nursing homes, laboratory testing companies, physician practices and other healthcare businesses.

The firm works on a variety of transaction types, including refinancings, equipment purchases, growth capital, acquisitions and balance sheet restructurings, among others.  

“The aging population and structural changes in the healthcare industry are impacting the bottom line for our nation’s healthcare providers and companies that service them,” Irwin said in a statement at MC Healthcare’s launch. “As a result, lower middle-market healthcare businesses are increasingly strapped for capital and have little access to traditional sources of bank financing.”