AdaptHealth refinances senior secured credit facility

CONSHOHOCKEN, Pa. – AdaptHealth has closed a $1.1 billion senior secured credit facility consisting of a $325 million Term Loan A, a $325 million Delayed Draw Term Loan and a $450 million revolving line of credit. The company believes these upgrades, along with consistent free cash flow generation, directly contributed to the improved terms achieved in the new credit facility, including a meaningfully reduced pricing grid that reflects lender recognition of its stronger credit standing. “The terms of this new credit facility are a direct reflection of the significant progress we have made transforming AdaptHealth’s financial and operational profile over the past several years,” said CFO Jason Clemens. “The recent upgrades from both S&P and Moody’s, combined with the strong support from our banking partners – including a well-oversubscribed syndication process – validate the work our team has done to build a more resilient and higher-performing company. The improved pricing, expanded capacity, and extended maturity provide us with the financial foundation to continue delivering value to our patients, partners, and shareholders.” According to AdaptHealth:

• Proceeds from the new $325 million Term Loan were used to fully repay, without penalty, the company’s existing Term Loan.
• The new $450 million revolver replaces the company’s existing $300 million revolving credit facility, which had $100 million drawn at the time the credit facility closed.
• The increased revolver size provides enhanced liquidity to support the company’s ongoing operations.
• The $325 million Delayed Draw Facility provides the company with committed capital that may be drawn in up to two advances over a one-year availability period.

AdaptHealth does not expect the transaction to affect the full year 2026 guidance previously provided.

• Related: AdaptHealth’s fast start on contract boost confidence.