Monroe Capital announced it is acting as joint lead arranger on a senior credit facility that will back InTandem Capital Partners’ $375 million acquisition of The Phia Group, a health‑benefits consulting firm headquartered in Canton, Massachusetts.
The facility will provide the working capital needed for InTandem to acquire or expand The Phia Group, which was founded in 2000 and specializes in cost‑containment and plan‑management services for health‑benefit plans and sponsors.
The transaction brings together InTandem, HarbourVest Partners, and Partners Capital as co‑investors, while WestView Capital Partners remains a significant investor in the company.
Monroe Capital’s involvement underscores its focus on lower‑middle‑market financing and its ability to structure sizable credit transactions for private‑equity clients, reinforcing its reputation as a key lender in this segment.
The deal aligns with InTandem’s strategy of acquiring and accelerating growth of healthcare services companies, particularly those that help health plans manage rising costs and complex regulations.
The healthcare cost‑containment market is projected to reach $74 billion by 2032, indicating strong demand for The Phia Group’s services and supporting the rationale for the investment.
Monroe Capital has been active in the market, announcing several credit facilities and fund closings in late 2025, including the launch of its Monroe Capital Enhanced Corporate Lending Fund, further demonstrating its commitment to private credit.
The senior credit facility will provide the necessary capital to support the acquisition and potential expansion of The Phia Group, positioning InTandem to capture growth opportunities in the cost‑containment space while strengthening Monroe Capital’s portfolio of private‑equity‑backed middle‑market transactions.
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