Avadim Health, Inc. Announces Growth Capital Investment of $60 Million
ASHEVILLE, N.C., October 09, 2018 — Avadim Health, Inc. (“Avadim Health”), the Bionome Therapies™ life sciences company, is pleased to announce today that it has closed a debt financing round with gross proceeds of $40 million with an additional accordion facility of up to $20 million. ASGARD Partners & Co. (“ASGARD”) served as the Company’s financial advisor on the transaction. Hayfin Capital Management was the sole investor in the financing.
Steve Woody, Chairman and CEO of Avadim Health, stated, “The financing represents the accomplishment of a major milestone in our overall capitalization plan. We are pleased to partner with Hayfin and their investment experience in our industry. Hayfin’s investment will allow us to continue to drive execution and support the company’s strong growth trajectory. We would also like to thank ASGARD for their relentless support in helping us manage the process to close this transaction. ASGARD’s strong understanding of the life sciences sector and its ability to help navigate structuring and financial challenges resulted in a great outcome for all parties.”
Howard Rowe, Managing Director and Head of Healthcare at Hayfin Capital Management, stated, “We are excited to partner with the Avadim Health leadership team to build upon the Company’s track record of success and innovation. Our support for Avadim Health is consistent with our strategy to back innovative, high-growth healthcare businesses with strong brands. Avadim Health is a great addition to our healthcare investment portfolio.”
“We are proud to have been able to help Avadim Health as it continues to build a world-class company and a fantastic brand in the healthcare and consumer spaces with their family of products. With this financing, we are excited to see the Company continue to grow and be in a position to serve even more customers and improve their lives. Working with Steve and the rest of his team has been a real privilege,” said Nicholas Desjardins, Partner at ASGARD.
About Avadim Health, Inc.:
Based in Asheville, North Carolina (USA), Avadim Health, Inc. is a rapidly growing life sciences company built around the concept of serving. With a mission to change lives and transform communities, the company identifies unmet needs and addresses them in a way nobody else has. Avadim Health offers a portfolio of advanced, safe solutions, and has a strong pipeline across a broad range of health and wellness areas.
About Hayfin Capital Management:
Hayfin Capital Management is a leading European-headquartered credit platform that provides lending solutions to corporates and asset management services to institutional clients. Since it was founded in 2009, Hayfin has extended more than €14bn in loans to over 285 companies. The firm’s total assets under management are valued at c.€10bn.
Hayfin makes public and private investments across the liquidity spectrum through five strategies: direct lending, special opportunities, high-yield credit & syndicated loans, securitized credit, and private equity funds. Hayfin has a diverse international team of over 90 experienced industry professionals. The firm is headquartered in London and has offices in Frankfurt, Madrid, Paris, Luxembourg, New York, and Tel Aviv.
Hayfin is authorized and regulated by the Financial Conduct Authority. Further information can be found at hayfin.com.
ASGARD Partners & Co. is a next generation financial firm combining private equity investments and capital markets advisory into one platform to better and more effectively serve portfolio companies, clients and investors. ASGARD believes business is a powerful platform that can change the world for the better and is committed to serving entrepreneurs, companies, and investors that share this belief. The partners at ASGARD have collectively arranged and advised on more than $100 billion in transactions and have proven expertise across a wide spectrum of advisory services. ASGARD brings multi-functional capabilities to its clients and enables them to navigate their capital and growth decisions effectively. For more information, visit https://asgardpartners.com.
Avadim Health, Inc. Contacts:
David Fann, President
Joe McGuire, Chief Financial Officer
Avadim Health, Inc.
81 Thompson Street
Asheville, NC 28803
KCSA Strategic Communications