Houlihan Lokey Advises PatientPoint

Houlihan Lokey is pleased to have advised PatientPoint, LLC, a portfolio company of L Catterton, and Outcome Health, LLC, a portfolio company of Littlejohn & Co., on their successful debt placement. Houlihan Lokey served as the exclusive placement agent of a secured credit facility in support of the companies’ strategic combination. The transaction closed on March 8, 2021.

PatientPoint’s combination with Outcome Health creates PatientPoint Health Technologies—a new platform company offering tech-enabled patient engagement solutions that create more effective doctor-patient interactions across the entire patient care journey. The company will operate under the PatientPoint brand. PatientPoint brings together two businesses in pursuit of one mission—making every doctor-patient engagement better. The combined company will help meet the tech-enabled patient engagement needs of nearly 150,000 unique healthcare providers and impact roughly 750 million patient visits each year. The new platform company plans to leverage a combination of organic growth and M&A to continue to grow its provider base and to expand the suite of innovative, tech-enabled patient engagement solutions it can offer to its provider customers.

The combined entity will be majority owned by a group of investors, including funds managed by L Catterton and Littlejohn. L Catterton is the largest consumer-focused private equity firm in the world with more than $25 billion of assets under management across its fund strategies in 18 offices globally. L Catterton has a 31-year history of partnering with market-leading companies and management teams. Littlejohn is a leading middle-market private equity and special situations investor with approximately $12 billion in regulatory assets under management. Littlejohn has a 22-year history of investing across the capital structure in companies that can benefit from the firm’s operational approach to strategy and growth.

Houlihan Lokey’s Capital Markets Group served as the exclusive placement agent to PatientPoint, assisting the company in arranging, structuring, and negotiating the financing. The secured credit facility consisted of a revolver, as well as first and second lien term loan commitments. The transaction represents another example of Houlihan Lokey’s ability to drive favorable outcomes to support the growth of its clients. Houlihan Lokey’s Capital Markets Group is one of the largest providers of private capital solutions in the world, raising over $9 billion across more than 50 transactions during 2020.