OREANDA-NEWS. CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced that CIT Healthcare Finance served as Lead Arranger for a $190 million senior secured credit facility to help finance the combination of Vertical/Trigen Holdings, LLC (Vertical/Trigen) with Osmotica Holdings Corp Limited (Osmotica), a specialty pharmaceutical company with a proprietary drug delivery system and a portfolio of branded and generic drugs with a focus in neuroscience/pain (CNS) therapeutics. Vertical/Trigen, a portfolio company of Avista Capital Partners, is a specialty pharmaceutical company that develops and distributes branded and generic prescription pharmaceuticals. The combined company will take on the Osmotica name. Senior financing was provided by CIT Bank, N.A., the principal bank subsidiary of CIT. Terms of the transaction were not disclosed.

Brian Markison, Chief Executive Officer, Osmotica, said, “We are pleased to have completed this strategic combination, which brings together two highly complementary businesses with demonstrated track records of developing commercially successful pharmaceutical products. I look forward to working with the combined team to ensure that the new Osmotica builds on the strengths of both companies to deliver greater value for physicians, patients and the healthcare system overall. CIT’s healthcare finance expertise played a crucial role in helping to facilitate this transaction.”

Sriram Venkataraman, Partner, Avista Capital Partners, said, “Avista valued CIT’s experience in the healthcare and pharmaceutical sectors as we worked to complete this transaction. We look forward to working with CIT again in the future.”

William Douglass, Group Head and Managing Director, CIT Healthcare Finance, said, “The pharmaceutical market continues to present strong investing opportunities for private equity firms such as Avista with deep sector experience. Together, the combination of Vertical/Trigen and Osmotica will create a vertically integrated specialty pharmaceuticals company with end-to-end capabilities across the pharmaceutical lifecycle, a diverse drug portfolio, a robust R&D platform, world class regulatory infrastructure, proprietary technology and proven distribution capabilities. We are pleased we could leverage our healthcare finance knowledge to help bring this transaction to completion.”