Portfolio reports show the current active book. Closed and archived borrowers, including their history, are available in All Borrowers.
BluePeak Healthcare Solutions
Healthcare — Physician Practice Management
Portfolio: Active
Selected-quarter financials received. Status, position terms and analyst notes reflect current records.
LTM financial analysis — unadjusted
EBITDA $22.5M · Leverage 4.31x · Interest coverage 1.61x. Sources: Q4 2025, Q1 2026, Q2 2026, Q3 2026. These analytics are separate from supplied covenant actuals.
Analyst notes
Positions
| Instrument | Commitment | Rate | Floor | Maturity | PIK | FV Q3 2025 | FV Q4 2025 | FV Q1 2026 | FV Q2 2026 | FV Q3 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Unitranche | $22.0M | SOFR + 625 | 1% | 2029-01-10 | — | $21.5M | $21.8M | $21.2M | $22.0M | $22.1M |
Income Statement Spread ($M)
| Line Item | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Δ QoQ |
|---|---|---|---|---|---|---|
| Revenue | 28.4 | 30.2 | 29.1 | 31.8 | 32.4 | ↑ 2.0% |
| COGS | (17.0) | (18.3) | (17.9) | (19.5) | (19.9) | ↑ 2.0% |
| Gross Profit | 11.4 | 11.9 | 11.2 | 12.3 | 12.5 | ↑ 2.0% |
| Gross Margin % | 40.1% | 39.4% | 38.5% | 38.7% | 38.7% | → 0.0% |
| SG&A | (6.0) | (6.3) | (6.2) | (6.4) | (6.5) | ↑ 2.0% |
| EBITDA | 5.4 | 5.6 | 5.0 | 5.9 | 6.0 | ↑ 2.0% |
| EBITDA Margin % | 18.9% | 18.6% | 17.2% | 18.5% | 18.5% | → 0.0% |
| D&A | (1.4) | (1.5) | (1.4) | (1.5) | (1.5) | → 0.0% |
| Interest Expense | (3.6) | (3.5) | (3.4) | (3.5) | (3.5) | → 0.0% |
| Tax | (0.2) | (0.3) | (0.1) | (0.3) | (0.3) | → 0.0% |
| Net Income | 0.2 | 0.3 | 0.1 | 0.5 | 0.7 | ↑ 21.5% |
Balance Sheet ($M)
| Item | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Δ QoQ |
|---|---|---|---|---|---|---|
| Total Assets | 126.8 | 128.2 | 121.1 | 130.2 | 130.2 | → 0.0% |
| Total Debt | 96.8 | 96.9 | 88.1 | 97.0 | 97.0 | → 0.0% |
| Cash | 2.1 | 2.8 | 2.3 | 3.1 | 3.1 | → 0.0% |
| Equity | 12.8 | 14.5 | 14.9 | 17.0 | 17.0 | → 0.0% |
LTM Credit Metrics — unadjusted
Four consecutive quarters of EBITDA and interest; debt is the ending balance. Incomplete history is unavailable. These are analytical ratios, not covenant certificate results.
| Metric | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 |
|---|---|---|---|---|---|
| LTM leverage (unadjusted) | — | — | — | 4.43x | 4.31x |
| LTM interest coverage (unadjusted) | — | — | — | 1.56x | 1.61x |
Submission evidence
- Q3 2026 — Review submission & source documents01-Financial-Statements-Q3-2026.xlsx · Submitted 2026-10-05 by portfolio.analyst@nsns-fund.example
Periods without a separate retained submission: Q3 2025, Q4 2025, Q1 2026, Q2 2026. Earlier financials may be supporting history within an initial upload.
Covenant Compliance
Total Leverage
PassSupplied actual · Not independently verified
- Actual
- 4.31x
- Reported
- 4.31x
- Governing threshold
- ≤ 5x
- Reconciliation
- Not independently verified
- Review
- Not reviewed
Retained supplied comparison; not independently verified
Open retained workings and review historyInterest Coverage
PassSupplied actual · Not independently verified
- Actual
- 1.61x
- Reported
- 1.61x
- Governing threshold
- ≥ 1.4x
- Reconciliation
- Not independently verified
- Review
- Not reviewed
Retained supplied comparison; not independently verified
Open retained workings and review historyMinimum LTM EBITDA ($M)
TightSupplied actual · Not independently verified
- Actual
- $22.4976M
- Reported
- $22.4976M
- Governing threshold
- ≥ $21M
- Reconciliation
- Not independently verified
- Review
- Not reviewed
Retained supplied comparison; not independently verified
Open retained workings and review history