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GE Capital Closes $78 Million in Credit Facilities for JHP Pharmaceuticals, Cash Will be Used to Produced Life-Saving Drug


7/19/2011 7:01:00 AM

BETHESDA, Md.--(BUSINESS WIRE)-- GE Capital, Healthcare Financial Services announced today that it has closed, as administrative agent, $78 million in senior secured credit facilities for JHP Pharmaceuticals, LLC. In addition to refinancing certain existing indebtedness of the company, the credit facilities provide JHP with additional growth capital. GE Capital Markets served as joint lead arranger and sole bookrunner.

JHP Pharmaceuticals, LLC is a privately-owned pharmaceutical company headquartered in Parsippany, NJ, that develops, manufactures and markets mature brand and generic pharmaceutical products for the US hospital segment.

“As JHP continues to grow, it is paramount that we have a supportive financing resource that will allow us to leverage strong capital markets and expand existing credit facilities,” said Stuart Hinchen, president, JHP Pharmaceuticals, LLC. “Having a lender that is experienced and who is familiar with our business gives us the confidence that we are receiving credit facilities that are tailored specifically to our business’ growth needs.”

“JHP Pharmaceuticals has been a long time customer of GE Capital,” said Robert McCarrick, senior managing director, GE Capital, Healthcare Financial Services, Corporate Finance. “We are pleased to continue supporting JHP by providing them with financing that will allow them to build-out their capacity for future growth.”

About GE Capital, Healthcare Financial Services

With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 40 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE:GE - News) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges. Visit ge.com.

Contact:

GE Capital, AmericasNed Reynolds, 203-229-5717ned.reynolds@ge.comorGE Capital, Healthcare Financial ServicesJeanne DeLeonardo, 203-229-5244jeanne.deleonardo@ge.com



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