Fifth Street closes $114 M Healthcare Finance deal
Fifth Street Finance closes $114 million acquisition of Healthcare Finance
WHITE PLAINS, N.Y. (AP) -- Investment firm Fifth Street Finance Corp. has completed its $114 million acquisition of Healthcare Finance Group LLC and said it expects the deal to immediately help its net investment income.
Healthcare Finance is a New York company that focuses on providing secured debt financing to healthcare companies. Fifth Street, based in White Plains, N.Y., said Thursday it paid for the deal with cash and borrowings under its existing credit lines.
Fifth Street lends to and invests in small and mid-sized businesses, mainly in connection with private equity investments.
The company's stock has slipped since topping $11 last month. It closed at $10.14 on Thursday, which puts the shares down nearly 3 percent so far this year.
