Credit Value Partners closes $12.0 million DIP credit facility with Health Diagnostic Laboratory

Jan 12 2016

Credit Value Partners, LP, as agent for funds and accounts under its management ("CVP"), a registered investment advisor specializing in corporate debt investments, announced that it closed a $12.0 million revolving DIP credit facility with Health Diagnostic Laboratory, Inc. ("HDL"). Proceeds of the loan were used for general working capital purposes and to assist HDL in its sale process.

"CVP is pleased to have provided this DIP facility to HDL," said Michael Keller, Partner for Credit Value Partners, LP. "This loan highlights the strength of CVP's direct lending platform and the depth of our firm's healthcare and bankruptcy expertise."

"It's a great privilege to work with CVP," said Martin McGahan, Senior Managing Director of Alvarez & Marsal and Chief Restructuring Officer of HDL. "The CVP deal team of Michael Keller and Robert Gittrich exhibited an extremely deep understanding of the healthcare industry and bankruptcy. Despite significant obstacles and complexities, they were able to craft a solution and execute in a timely and thoughtful manner."