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Covington Advises OrbiMed in $75 Million Debt Financing for The Oncology Institute

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  • Covington Advises OrbiMed in $75 Million Debt Financing for The Oncology Institute

NEW YORK—Covington represented an investment fund affiliated with OrbiMed Advisors in a $75 million senior term loan to The Oncology Institute, Inc., the proceeds of which were used to repay existing indebtedness.  The transaction is intended to increase liquidity, improve operating flexibility, and extend debt maturities for The Oncology Institute. 

OrbiMed is a global investment firm that invests in companies engaged in the discovery and development of biopharmaceutical products, medical technologies, medical devices, diagnostics, drug discovery tools, and healthcare information technology and services companies.

The Oncology Institute, originally founded in 2007, is a leading national platform delivering integrated direct care and cost management to patients who are undergoing treatment for cancer and other complex medical conditions and to payors managing those patients’ care.

The Covington team included Peter Schwartz, Jennifer Uren, and Brendon Francis (finance), Kurt Baca (tax), Stefanie Doebler and Anna Kraus (health care regulatory), Michael Francese (employee benefits), and Martin Beeler (bankruptcy).

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