Clarus Capital completed a new $5 million loan facility for a sponsor-backed health diagnostics provider. The funding proceeds replenished liquidity the client utilized to acquire new lab testing equipment as part of the company’s multi-year strategic upgrade initiative to expand capabilities and increase throughput.

“Our client is an essential provider of critical medical diagnostic services, and we appreciate the opportunity to support its continued growth,” Steve O’Leary, CEO of Clarus Capital, said. “This transaction demonstrates our team’s commitment to provide flexible and transparent financing solutions for essential use assets, and we look forward to future opportunities to demonstrate these core capabilities.”

“We are excited to continue our team’s longstanding partnership with this sponsor and its portfolio companies,” Tim Conway, chairman of Clarus Capital, said. “Having closed more than $500 million of cumulative cash flow financings for this sponsor throughout our multi-decade relationship, we are pleased to close this transaction, as it marks a new chapter financing essential use assets.”