OREANDA-NEWS. GE Capital’s Healthcare Financial Services (HFS) business announced today that it has provided a \$320 million senior secured credit facility to Diplomat Pharmacy, Inc., the country’s largest independent specialty pharmacy. GE Capital Markets was lead arranger and bookrunner on the transaction.

A portion of the funds was used to acquire BioRx, LLC, a Cincinnati, OH-based highly specialized pharmacy and infusion services company that provides treatments for patients with ultra-orphan and rare, chronic diseases. The remainder of the funds will be available for working capital and other general corporate purposes.

Headquartered in Flint, MI, Diplomat focuses on medication management programs for people with complex chronic diseases, including oncology, immunology, hepatitis, multiple sclerosis, HIV, specialized infusion therapy and many other serious or long-term conditions. In addition, the company provides patient support services through national retailers and major hospitals.

Sean Whelan, Diplomat’s CFO, said, “We were looking for timely and reliable execution of this credit facility, with flexible terms to support our continued rapid growth. GE Capital’s healthcare finance team understands our business very well, which really helped in the structuring and execution of this transaction.”

“We’re pleased to have successfully completed this latest financing for Diplomat,” said David Varhol, managing director of GE Capital, Healthcare Financial Services’ corporate finance team. “We’re seeing continued rapid growth and consolidation within the specialty pharmacy industry, particularly in the specialty infusion space. This acquisition helps expand Diplomat’s presence in specialty infusion while it continues its rapid organic growth.”