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Financing Amount: ₤7.2 million (financed in three tranches)
Structure: Lease Facility
Assets: Interactive Hospital Bedside Terminals
Location: United Kingdom
Term: 84 months
Date: August 2005
Premier is a privately-held, venture-backed provider of bedside communication and entertainment services in hospitals throughout the United Kingdom. Although Premier had a limited operating history, it had secured exclusive contracts with the UK Health Department to provide bedside entertainment and communication services to UK hospitals. ICON worked closely with management teams from both Premier and its equity sponsor to finance the purchase and installation of approximately 5,000 bedside terminals in several hospitals over a 12-month period. The transaction was structured to defer interest expense and maximize Premier’s profitability without diluting its equity sponsor’s position. With ICON’s financial support the terminals were successfully installed and are currently generating significant revenue.