CareMax, IMC Medical net $125M loan for merger transaction

Deerfield Healthcare Technology Acquisitions Corp., a blank-check company, received a debt financing commitment backing an acquisition of CareMax Medical Group LLC and IMC Medical Group Holdings.

Affiliates of Royal Bank of Canada have committed to syndicating and arranging $125 million in senior secured credit facilities, a Jan. 20 SEC filing said.

Consideration for CareMax Medical totals roughly $364 million in cash and common stock. Equity holders are primarily the company's founders. IMC Medical Group equity holders are eligible to receive roughly $250 million in cash and common stock. Consideration also includes potential earnout payments.

An investor group, including Fidelity Management & Research Co. LLC; Eminence Capital LP; funds managed by BlackRock; and Maverick, have committed to purchase over $400 million in common shares.

CareMax Medical Group and IMC Medical Group provide value-based senior healthcare and social services. Following the merger, the company will be renamed CareMax and trade on Nasdaq.