GHX in Refinancing and Amendment to First-Lien Credit Agreement

Cleary Gottlieb represented Global Healthcare Exchange (GHX) in a refinancing and incremental amendment to its first-lien credit agreement, pursuant to which GHX extended the maturity of its revolving credit facility, obtained an additional $75 million in incremental revolving credit commitments, and incurred incremental term loans and refinancing term commitments in an aggregate principal amount of $725 million.

The proceeds of the transaction were used to refinance in full its outstanding term loans under its first-lien credit agreement and pay related fees and expenses. The transaction launched on April 25, 2023 and closed on May 9, 2023.

Headquartered in Louisville, Colorado, GHX has employees in the United States, Canada, and Europe, and is known for operating the largest health care trading network, representing more than 80% of licensed beds in the U.S. and through which 85% of med-surg products flow. Cleary previously represented GHX in its 2020 acquisition of Lumere, as a result of which GHX also operates the largest unified data core of item, vendor, transaction data, and clinical evidence. Cleary also represented GHX in its 2022 acquisition of Syft, an inventory management tool, and its 2023 acquisition of Prodigo, a supply chain marketplace and exchange software solution.

GHX is a portfolio company of Temasek, an investment company based in Singapore. Warburg Pincus is also a significant minority owner of GHX.