Online, April 17, 2017 (Newswire.com) - BRENTWOOD, Tenn.--Corizon Health ("Corizon" or the "Company"), the nation's leading correctional healthcare company, announced today that it has completed a recapitalization providing the Company with significant liquidity, operational flexibility and the ability to execute on attractive growth opportunities. Led by BlueMountain Capital Management, the transaction provides significant new capital while materially reducing the Company's long-term debt.
Corizon Health restructuring infuses significant new capital while materially reducing debt to better serve clients.
Karey L. Witty, President and Chief Executive Officer of Corizon, stated: "This transaction is very positive news for our Company, our customers, business partners and employees. With a strengthened balance sheet, we are much better positioned to invest in and grow our business and take full advantage of the strength of our operations. We have outstanding, hard-working employees and a strong management team, all of whom are committed to serving our customers and to our long-term success."
Evercore acted as financial advisor for the company, and Paul Hastings LLP served as the company's legal counsel. Weil, Gotshal & Manges LLP provided counsel to the new ownership group.
About Corizon Health
Corizon Health provides quality healthcare services to states and municipalities across the country, offering a comprehensive solution for physical care, behavioral care and pharmaceutical services. With its corporate headquarters in Brentwood, Tennessee, Corizon Health is the leading provider of correctional healthcare services in the United States. For more information, please visit www.corizonhealth.com.
Source URL: http://businesswire.com/news/home/20170417005585/en/Corizon-Health-Completes-Recapitalization
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