AB Private Credit Investors (AB-PCI) provided financing as a club lender to recapitalize RxBenefits, a portfolio company of Great Hill Partners. Total commitments to the senior secured credit facilities were $185 million. AB-PCI leveraged its strong expertise and knowledge in the healthcare sector to quickly and efficiently deliver a flexible financing solution. Madison Capital acted as Administrative Agent on the transaction.
Founded in 1995, RxBenefits is a scaled, PBM-agnostic pharmacy platform that works collaboratively with benefit consultants to serve self-funded employers, third-party administrators, and health plans. As the only platform with real-time data access and connectivity to the nation’s three largest PBMs, RxBenefits provides optimized mid-market pharmacy solutions that rival those offered to Fortune 100 companies.
Great Hill Partners is a Boston-based private equity firm that has raised over $5 billion in commitments since inception to finance the acquisition, recapitalization, or expansion of growth companies in a wide range of sectors in business-to-business and business-to-consumer industries including software, financial and healthcare technology, digital media, eCommerce, and internet infrastructure.