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SOLIS WOMEN’S HEALTH
SECURES SENIOR DEBT AND FOLLOW ON EQUITY FUNDING
Austin, Tx – October 15, 2007 - Solis Women’s Health, the country’s leading provider of integrated
breast care, announced today that it has secured a $12 million senior
credit facility and closed a $10 million follow on equity funding. The
senior credit facility, which includes a $9 million term facility and a
$3 million revolving line of credit, was provided by GE Healthcare
Finance. The equity funding was committed by the existing Solis Series A
investors, led by Marwit Capital Partners II, L.P. and includes Capital
Resource Partners V, L.P.
Solis CEO Brad Hummel commented, “This financing round will provide the
capital to close two committed acquisitions in the southwestern US and
fund the opening of the company’s 7th DFW area facility, scheduled to
open later this month in Arlington, Texas. We are pleased that our core
investor group confirmed their confidence and commitment in the Solis
business model and the considerable opportunity we have before us.”
Marwit Managing Partner and Solis Chairman Matthew Witte added, “The
completion of the GE Healthcare credit facility is the first step
towards what we anticipate will be an active and robust relationship as
we continue to develop markets and target acquisitions across the
country. GE’s broad experience within the healthcare services sector and
deep understanding of our industry and business model make them an ideal
financial partner.”
Hummel added, “The acquisitions and the associated financing are
consistent with the execution of the company’s strategic plan which
anticipates acquisitions in core markets, the development of an
integrated digital imaging network and alliances with healthcare systems
throughout the United States. The company recently completed a system
wide transition to a full field digital mammography platform supported
by a state of the art Radiology Information System (RIS).”
About Solis Women’s Health
Solis Women’s Health is a specialized
healthcare provider focused exclusively on the screening and diagnosis
of breast cancer. Headquartered in Austin, Tx, Solis operates six north
central Texas facilities, the Bertrand Breast Center in Greensboro,
North Carolina and has several additional sites under development in
markets across the United States. Solis was founded in 1986 by Timothy
Freer M.D. and acquired by Marwit Capital in 2005.
Contact:
Brad Hummel
President & Chief Executive Officer
512-370-8100
www.solishealth.com
Thomas Dollhopf
Marwit Capital Partners
949-861-3636
www.marwit.com
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