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MidCap Financial LLC

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Intro to MidCap Financial

MidCap Financial was founded in 2008 and has continued to operate as a middle market-focused, specialty finance firm. They provide senior debt solutions to companies in varying industries with a specialty in the healthcare space. They offer a number of products used to foster growth and management of capital. MidCap Financial is managed by Apollo Capital Management which is one of the world's largest asset managers with approximately $170 billion of assets under management. MidCap Financial provides market leading industry expertise, market reach, and financing synergies. 

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The Good

  • Time in business
  • Advantages
  • Options

Time in Business

The healthcare asset based lending from MidCap Financial draws from over fifteen years of industry experience. MidCap Financial has been a leader in financing middle market healthcare companies. A number of financing providers solely work with large companies dealing with millions of dollars in loans. With MidCap Financial, small or medium sized providers have the ability to receive the funding they need to grow their business.

Advantages

MidCap Financial provides lending to a number of different providers in several realms of the healthcare industry. They can finance products and services spanning the continuum of healthcare delivery. Common projects that are funded include the following:
  • Hospital operators
  • Nursing home operators
  • Physician practices
  • Pharmaceutical and medical device manufacturers and distributors
  • Outpatient services providers

Options

The capital MidCap Financial can provide is a draw for providers looking to undertake lifecycle changes with structured capital needs. These needs include: growth capital investment, acquisitions, management buy-outs, recapitalizations, or restructuring. MidCap Financial particularly specializes in revolving lines of credit secured by accounts receivable, inventory, and other current and long-term assets. There is also an option to utilize the one-stop financing solutions where MidCap augments their revolving lines of credit with mezzanine term loans.
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The Bad

  • No personal loans
  • Lack of transparency

No Personal Loans

MidCap Financial does not provide individuals with personal loans needed to pay for medical procedures or treatments. They solely work with healthcare providers to assist on the lending  side of things. Those who are in need of a personal loan to finance a patient's medical expenses will need to go through another provider.

Lack of Transparency

Since MidCap Financial only works with providers, there is no disclosed interest rate or added costs. A number of factors will play into the APR and other terms, which means there is no accurate way to determine just how much interest a provider will be responsible for. In order for a company to find out how much it will end up costing to conduct business, they will need to consult a representative from MidCap Financial and submit an application outlying specific information.
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The Bottom Line

MidCap has funded and continues to finance a number of healthcare products and services all across the nation. Mid-sized companies interested in using MidCap Financial for the funding services will need to consult MidCap directly for specifics. Each company will need to meet a number of qualifications and specifications prior to receiving funding. MidCap will walk each provider through the process to ensure funding is provided as quickly as possible.
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