Crown Capital Partners lends $20 mln to fund acquisition by CHR Medical

Canadian medical company CRH Medical Corp (TSX: CRH) has secured a US$20 million sub-secured loan from Crown Capital Partners, a Canadian provider of alternative debt financing for private equity-backed and non-sponsored mid-market transactions. The deal adds to a US$30 million secured loan extended to CRH by Knight Therapeutics Inc, as well as funding from other sources. The Vancouver-based CRH, which develops products for the treatment of gastrointestinal diseases, will use the credit facilities and other monies to finance its purchase of U.S.-based Gastroenterology Anesthesia Associates LLC. The acquisition is valued at a maximum of US$73.2 million.

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