Phreesia Secures $275M Revolving Credit — Technology M&A

Capital One has completed a senior secured revolving credit facility for Phreesia, a healthcare IT business in the United States, for up to $275 million. Phreesia provides technology for healthcare workflows and patient engagement, supporting its platform operations and enabling ongoing healthcare IT acquisition activity. The new credit line was designed to refinance Phreesia acquisition bridge financing tied to the AccessOne acquisition and to fund general corporate uses, strengthening liquidity for working capital and capital expenditures. The other acquisition financing structure replaces a $110 million Goldman Sachs bridge loan and a $50 million Capital One asset-based revolver with a larger covenant-based revolving facility, secured by first-priority liens on substantially all U.S. assets and guaranteed by certain domestic subsidiaries.