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As of 10 Oct 2026 · demonstration dates

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

Unavailable — four consecutive financial quarters are required. Missing: Q4 2024, Q1 2025, Q2 2025.

Analyst status: Watch📍 Nashville, TN📅 2024-01-10🏢 Harrowmere Health PartnersWatch list
3 covenants not tested, credit mark 98% of par

Analyst notes

Platform providing management services to dermatology and med-spa physician practices across the Southeast, with 14 locations.
Covenant-tight: Interest Coverage at 1.14x in Q1 (threshold 1.10x)
Q1 EBITDA miss vs. threshold ($4.0M vs $4.5M — waiver obtained)

Positions

InstrumentCommitmentRateFloorMaturityPIKFV Q3 2025
Unitranche$22.0MSOFR + 6251%2029-01-10—$21.5M

Income Statement Spread ($M)

Line ItemQ3 2025Δ QoQ
Revenue28.4—
COGS(17.0)—
Gross Profit11.4—
Gross Margin %40.1%—
SG&A(6.0)—
EBITDA5.4—
EBITDA Margin %18.9%—
D&A(1.4)—
Interest Expense(3.6)—
Tax(0.2)—
Net Income0.2—

Balance Sheet ($M)

ItemQ3 2025Δ QoQ
Total Assets126.8—
Total Debt96.8—
Cash2.1—
Equity12.8—

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.

MetricQ3 2025
LTM leverage (unadjusted)—
LTM interest coverage (unadjusted)—

Submission evidence

Periods without a separate retained submission: Q3 2025. Earlier financials may be supporting history within an initial upload.

Covenant Compliance

Interest Coverage

Not tested

Not verified · Not independently verified

Actual
Unavailable
Reported
Not supplied
Governing threshold
≥ 1.4x
Reconciliation
Unable to verify
Review
Not reviewed · Needs review

No supplied actual for this quarter.

Minimum LTM EBITDA ($M)

Not tested

Not verified · Not independently verified

Actual
Unavailable
Reported
Not supplied
Governing threshold
≥ $21M
Reconciliation
Unable to verify
Review
Not reviewed · Needs review

No supplied actual for this quarter.

Total Leverage

Not tested

Not verified · Not independently verified

Actual
Unavailable
Reported
Not supplied
Governing threshold
≤ 5x
Reconciliation
Unable to verify
Review
Not reviewed · Needs review

No supplied actual for this quarter.

Fair Value History

Q3 2025
$21.5M
98% of par