Bridgepoint Acts as Sole Financing Arranger to PrairieCare on its Debt Recapitalization and Growth Financing
December 31, 2019 – Minneapolis, MN – Principals of Bridgepoint Investment Banking (“Bridgepoint”) acted as the sole financing arranger to PrairieCare and PrairieCare Medical Group (“PrairieCare”) on their debt recapitalization and growth financing by BMO Harris N.A. (“BMO”) and Lake Country Capital (“Lake Country”). This recapitalization provides increased growth capital capacity in addition to shareholder liquidity.
Dr. Stephen Setterberg, MD, Founder & President of PrairieCare, stated “Bridgepoint continues to be a trusted advisor and an integral partner in our capitalization, strategic and growth efforts. Their on-demand accessibility, healthcare expertise and consultative approach provided PrairieCare with a menu of financing alternatives that could meet our objectives. Their tailored process and commitment to our Company have made them our investment bank for years to come.”
Bridgepoint Managing Director Gary Grote commented, “We are proud to work with the premier child psychiatric provider in the Midwest. Our team ran an outstanding capital raise process on a very short time schedule. The PrairieCare, BMO and Lake Country deal teams delivered a terrific outcome, taking another major step toward achieving PrairieCare’s ultimate corporate and shareholder goals. It is our privilege to assist such a meaningful business that is creating significant impact in an essential segment of healthcare.”
About Bridgepoint Investment Banking
Bridgepoint Investment Banking, a division of Bridgepoint Holdings, LLC, is a market-leading boutique investment bank. The Bridgepoint team, through their broker dealer relationship with M&A Securities Group, Inc., an unaffiliated entity, serves clients over their corporate lifecycles by providing capital raising and M&A advisory solutions. Bridgepoint serves clients globally across a range of focus sectors including healthcare.
To learn more about Bridgepoint Investment Banking, please visit bridgepointib.com
PrairieCare is a privately-owned clinician led organization providing partial hospital program (PHP) and inpatient services to the Twin Cities metro area, while PrairieCare Medical Group, also privately-owned, provides outpatient clinic and intensive outpatient programs (IOP) in the Twin Cities and Rochester, MN. PrairieCare employs nearly 400 staff, with PrairieCare Medical Group consisting of nearly 100 clinicians including child and adult psychiatrists, advance practice nurses, occupational therapists, play therapists, psychologists, neuropsychologists and more. PrairieCare inpatient and partial hospital programs earned Joint Commission accreditation in 2011. PrairieCare and PrairieCare Medical Group’s growth has been fueled by the demand for services and reputation for high quality and individualized care.
To learn more about PrairieCare, please visit prairie-care.com