NXT Capital Supports New Mountain Acquisition of Ontario Systems



NXT Capital closed a $220 million senior secured credit facility to support New Mountain Capital’s acquisition of Ontario Systems.

NXT Capital acted as the joint lead arranger, joint bookrunner and administrative agent on the transaction.

Vancouver, WA-based Ontario Systems is a provider of enterprise software designed to improve operations and revenue recovery for clients in the healthcare industry and the accounts receivable management (ARM) market as well as federal, state, and local governments.

Headquartered in Muncie, IN, Ontario Systems serves more than 600 hospital network customers—including five of the 15 largest hospital networks—that actively manage over $40 billion in receivables collectively, as well as eight of the 10 largest ARM companies and more than 600 federal, state, and municipal government clients in the U.S.

New Mountain Capital is a New York-based investment firm managing private equity, public equity, and credit funds with more than $20 billion in assets under management.

 

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