Aspen Group Nears $300 Million WellNow Sale as $3 Billion Debt Looms
Updated
Updated · Bloomberg · May 19
Aspen Group Nears $300 Million WellNow Sale as $3 Billion Debt Looms
1 articles · Updated · Bloomberg · May 19
$300 million is the expected price for Aspen Group's planned sale of WellNow, its urgent-care chain, as the healthcare provider moves closer to a deal.
Roughly $3 billion of Aspen loans come due next year, pushing the company to seek outside investors after weaker earnings strained its balance sheet.
Aspen is one of the largest US dental-care chain owners and is backed by Leonard Green & Partners, Ares Management and American Securities.
The WellNow sale and any new capital would help Aspen address near-term maturities as private equity-backed healthcare groups face tighter financing conditions.
As Aspen Group sells assets to pay debts, what does it mean for your next check-up?
With a $3 billion debt bomb ticking, is this dental giant facing collapse?
How does private equity's profit-first model impact the future of American dental care?