Milbank LLP represented the arrangers, led by Goldman Sachs Bank USA, in connection with $1.85 billion first lien credit facilities and a $350 million second lien credit facility for US Anesthesia Partners, Inc. ("USAP"), a portfolio company of Welsh, Carson, Anderson & Stowe, Berkshire Partners and GIC, to refinance existing debt and to pay a dividend to shareholders.
USAP is a physician-owned organization dedicated to providing high-quality anesthesia services. USAP has anesthesiologists, CRNAs and CAAs in over 1,000 inpatient and outpatient facilities across the country, providing anesthesia care for more than two million cases annually. The company’s approximately 4,000 clinical team members serve healthcare communities in nine states. USAP’s capital partners are GIC, Berkshire Partners and Welsh, Carson, Anderson & Stowe – each of whom have significant experience investing in and building leading healthcare companies.
The Milbank team was led by New York-based Global Leveraged Finance partner Charles Stern with assistance from associates Gabrielle Paolini, Benjamin Eisenstein, Jenny Saufley and Amira Privott-Yeiser.
