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GREENWICH, CT, July 05, 2016 (GLOBE NEWSWIRE) -- Fifth Street Asset Management Inc. (NASDAQ:FSAM) (“FSAM”) announced today that its affiliate, Fifth Street Management LLC, served as Administrative Agent, Joint Lead Arranger and Joint Bookrunner for senior secured credit facilities supporting the recapitalization of Ob Hospitalist Group, Inc. (“OBHG”). Headquartered in Mauldin, SC, OBHG is the leading provider of 24/7, onsite obstetrics hospitalist programs to hospitals in the U.S. The financing included investments from Fifth Street Finance Corp. (NASDAQ:FSC), Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) and other Fifth Street investment vehicles.
OBHG is sponsored by a fund in the Private Equity Group of Ares Management, L.P. (NYSE:ARES). This is the second financing that Fifth Street has led in support of portfolio companies of Ares Management, L.P. funds in the last 12 months.
“OBHG has a strong value proposition that allows for improved patient outcomes, increased revenue and reduced costs for partner hospitals, as well as enhanced operational efficiencies. As a result, OBHG has become a leading provider and a valued partner to hospitals across the nation,” noted Sunny K. Khorana, Managing Director, Head of Sponsor Coverage at Fifth Street, adding, “OBHG’s primary mission is focused on elevating the standards of women’s healthcare by providing patients and their families greater access to quality obstetric care. We are thrilled to support the company’s management, as well as our partners at Ares, by making this investment to help the company continue to expand and grow market share.”
About Ob Hospitalist Group, Inc.
Ob Hospitalist Group (OBHG) began in 2006 with a vision to elevate the quality and safety of women’s healthcare. Today, Greenville, SC-based OBHG leads the industry in developing and managing on-site OB/GYN hospitalist programs staffed with Board Certified physicians 24 hours a day, 365 days a year. In partnership with hospitals, nursing staff, physicians and hospitalists we have developed a unique, comprehensive, financially viable OB/GYN hospitalist program that serves women, newborns, and their families. For further information about Ob Hospitalist Group please visit www.OBHG.com.
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a nationally recognized credit-focused asset manager. The firm has over $5 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. (NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR), as well as multiple private investment vehicles. The Fifth Street platform provides innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities. With over an 18-year track record focused on disciplined credit investing across multiple economic cycles, Fifth Street is led by a seasoned management team that has issued billions of dollars in public equity, private capital and public debt securities. Fifth Street's national origination strategy, proven track record and established platform are supported by nearly 60 professionals across locations in Greenwich and Chicago. For more information, please visit fsam.fifthstreetfinance.com.
This press release may contain certain forward-looking statements, including statements with regard to the future performance of the company. Words such as “believes,” “expects,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in the company’s filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:Investor Contact:Robyn Friedman, Executive Director, Head of Investor Relations(203) firstname.lastname@example.orgMedia Contact:James Golden / Andrew SquireJoele Frank Wilkinson Brimmer Katcher(212) 355-4449
Source:Fifth Street Asset Management