Penfund Announces C$70 million Investment in CBI Health Group

TORONTO, Dec. 15, 2023 (GLOBE NEWSWIRE) -- Penfund, an independent provider of junior capital to North American middle market companies, announced the completion of a C$70 million subordinated debt investment in CBI Health Group ("CBIH" or the "Company"), a portfolio company of OMERS Private Equity ("OMERS"). Penfund acted as lead lender and agent for the subordinated debt facility, which supported a comprehensive refinancing of CBIH's existing credit facilities.

Headquartered in Toronto, Canada, CBIH is a leading provider of community-based healthcare. The Company operates across Canada and does business through two segments, rehabilitation services and home healthcare services. CBIH has approximately 13,000 staff across over 250 locations, supporting more than 800 communities.

"CBIH plays a critical role in the Canadian healthcare ecosystem. We first invested in CBIH in 2018 and we are thrilled to continue our partnership," stated Adam Breslin, a Partner at Penfund.

Jeremy Thompson, a Partner at Penfund, added, "We have a longstanding relationship with OMERS and are delighted to support them through CBIH's next stage of growth."

About CBI Health Group

For millions of Canadians, CBIH is where better begins. CBIH is Canada's leading community healthcare provider, reliably delivering innovative rehabilitation and home care programs that help its clients achieve their health goals. With 250+ locations and supporting more than 800 communities, people are at the heart of what CBIH does. Every day, across the country, CBIH's 13,000 staff work together to make a meaningful difference in its clients' lives and help shape healthcare for the better. Learn more at cbihealth.ca.

About Penfund

Penfund is a leading provider of junior capital to middle market companies throughout North America. The firm is currently investing its most recently established fund, Penfund Capital Fund VII. Penfund manages funds sourced from pension funds, insurance companies, banks, family offices and high-net-worth individuals located in Canada, the United States, the Middle East, and Europe. Penfund has invested more than $3 billion in over 225 companies since its establishment. Assets under management are approximately $2.8 billion.

For further information, please contact:

Richard Bradlow
Partner
(416) 645-3794
[email protected]

Adam Breslin
Partner
(416) 645-3796
[email protected]

Joe Mattina
Partner, Head of Origination
(905) 531-8725
[email protected]

Jeremy Thompson
Partner
(416) 645-3790
[email protected]