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Crown Capital Partners Completes $60.0 Million Term Loan with Medicure Inc.
Crown Capital Partners Completes $60.0 Million Term Loan with Medicure Inc. Crown ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Completes $60.0 Million Term Loan with Medicure Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCrown Capital Partners Completes $60.0 Million Term Loan with Medicure Inc.\nCanada NewsWire\nCALGARY, Nov. 18, 2016\n\n\n\nCALGARY, Nov. 18, 2016 /CNW/ - Crown Capital Partners Inc. (\"Crown\") (TSX: CRN), which provides growth capital to successful mid-market companies, today announced the closing of a $60.0 million term loan (the \"Agreement\") with Medicure Inc. (\"Medicure\") (TSXV: MPH), a specialty pharmaceutical company focused on the development and commercialization of cardiac therapeutics for the U.S. hospital market.  \n\nHeadquartered in Winnipeg, Medicure's lead product is Aggrastat®, which is marketed in the U.S. for non-ST elevation acute coronary syndrome. Medicure reports that sales of Aggrastat have been growing rapidly over the past several years, and the product now accounts for approximately 40% of the patient share of the market for this class of drugs in the U.S., compared with only 3% share in 2012. Medicure's revenue and EBITDA has grown significantly as the company's market share has increased. \n\nMedicure also owns a minority interest in Apicore US, a fast-growing Active Pharmaceutical Ingredient manufacturing service provider and developer of generic products for pharmaceutical companies. Medicure will use the proceeds of the term loan to purchase an additional 60% of the outstanding shares of Apicore.    \n\n\"Medicure is a well-managed, profitable and growing company that has demonstrated consistent revenue and EBITDA growth over the past several years,\" said Chris Johnson, Crown's President & CEO. \"Building off this strong base business, they are acquiring a controlling interest in a highly attractive business, and we're pleased to support them in executing this major transaction.\"\n\nThe Agreement provides for a $60.0 million term loan to Medicure, of which Crown Capital Fund IV, LP (\"Crown IV LP\"), an investment fund managed by Crown in which Crown holds a 40% interest, wil...