FORT MYERS, Fla., Aug. 29, 2013 (GLOBE NEWSWIRE) -- Radiation Therapy Services Holdings, Inc. ("Radiation Therapy" or "the Company"), a leading operator of radiation therapy centers, announced today that its wholly owned subsidiary, Radiation Therapy Services, Inc. ("RTSI"), has amended its $140 million revolving credit facility (the "Credit Facility"). The amendments include, among other things, the following changes:
Both the revolver and term loan have a maturity date of October 15, 2016.
Use of proceeds from the term loan is intended to provide the necessary liquidity to complete the purchase of OnCure Holdings, Inc. which is anticipated to close in October 2013. Following the close of this financing and the OnCure acquisition, the Company expects to have minimal outstanding under its $100 million revolver.
Bryan J. Carey, Vice Chairman and Chief Financial Officer, commented, "The additional capital raised through this transaction enables us to complete the OnCure transaction without diminishing our financial flexibility to continue to execute on our growth strategy. We are pleased with the support of our lending group."
Wells Fargo served as Administrative Agent, Issuing Bank, Collateral Agent and Swingline Lender. Wells Fargo Securities, Suntrust Bank and Morgan Stanley are acting as Joint Lead Arrangers and Joint Bookrunners.
About Radiation Therapy Services Holdings, Inc.
Radiation Therapy Services is a leading provider of advanced radiation therapy and other services to cancer patients in the United States and Latin America. The Company offers a comprehensive range of radiation treatment alternatives, focused on delivering academic quality, cost-effective patient care in a personal and convenient setting. In total, the Company operates 132 treatment centers, including 100 centers located in 15 U.S. states, strategically clustered in 28 local markets. The Company also operates 32 centers located in six countries in Latin America. The Company holds market leading positions in most of its domestic local markets and abroad.
CONTACT: Bryan J. Carey Chief Financial Officer 239-931-7285 firstname.lastname@example.org Investors: Nick Laudico The Ruth Group 646-536-7030 email@example.com
Fort Myers, Florida, UNITED STATES
Bryan J. Carey Chief Financial Officer 239-931-7285 firstname.lastname@example.org Investors: Nick Laudico The Ruth Group 646-536-7030 email@example.com