March 7, 2012 - Abacus Finance Group, LLC (Abacus), a New York-based specialty finance company, announced today that it served as Administrative Agent and Sole Lead Arranger for $17.5 million in senior cash-flow financing to support the acquisition of Woodbury Health Products, Inc. (Woodbury) by funds managed by MTS Health Investors, LLC (MTS). Abacus focuses exclusively on providing cash-flow financing for private equity-sponsored, lower-middle market companies. Legal counsel to Abacus was provided by Goulston & Storrs, LLP.

Headquartered in Oceanside, NY, Woodbury Health Products is a specialty distributor of incontinence, catheter and related healthcare products and supplies. New York-based MTS Health Investors makes equity investments in operating companies within services sectors of the healthcare industry. 

“We were impressed with how quickly the Abacus team helped us put this transaction together,” said Alex Buzik, a Principal of MTS. “We were dealing with decision-makers with strong healthcare industry knowledge who were great to work with. Their response was quick – the fastest we have ever seen from a lender – and we had a high degree of certainty that we would close in the time frame we wanted.” 

“We thoroughly enjoyed working with the MTS team, a top quality, healthcare-focused private equity investor. Healthcare is an area of strength for us, making it a great match-up,” said Tim Clifford, President and CEO of Abacus. “Our focus is the lower-middle market, and we understand and like working with smaller businesses, for whom flexibility and service are key elements of what we call our Total Partnership Approach.”

Woodbury Health Products, Inc.

Headquartered in Oceanside, NY, Woodbury Health Products has for more than 30 years been a specialty distributor of incontinence, catheter and related healthcare products and supplies. Currently, Woodbury provides home delivery for more than 400 items.  Visit woodburyproducts.com for more information.

About MTS Health Investors, LLC

MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes investments in operating companies within the healthcare industry. MTS targets companies that provide cost-effective solutions in the services and low-technology manufacturing sectors of the healthcare industry, including: providers of outsourced services to the healthcare industry; providers of healthcare services, including institutional, ambulatory or home care services; providers of managed care and other healthcare insurance services; distributors of medical products, and; manufacturers of low-technology medical devices and supplies.  Visit mtshealthinvestors.com for more information.

About Abacus Finance Group, LLC

Abacus Finance, headquartered in New York, is a lower-middle market specialty finance company, focused on providing senior cash-flow financing to private equity-sponsored companies nationwide. Formed in June, 2011, Abacus targets debt financing opportunities of up to $50 million with a typical hold size ranging from $10 million to $25 million, and the companies it finances generally have EBITDA between $3 million and $15 million. Abacus is sponsored by New York Private Bank & Trust, the holding company for Emigrant Bank, founded in 1850, the largest privately held bank in America with approximately $12 billion in assets.

Abacus is headquartered at 6 East 43rd Street, 20th Floor, New York, NY 10017. All inquiries and new investment opportunities should be directed to Tim Clifford at 212-850-4620 or to cliffordt@abacusfinance.com. Visit abacusfinance.com for more information.