WILMINGTON, DE — Phreesia, Inc. (NYSE: PHR) has entered into a new credit agreement for a senior secured revolving credit facility of up to $275 million to refinance existing debt and support ongoing operations, the company announced.
The company said it borrowed approximately $92.2 million at closing and used the proceeds to fully repay its outstanding bridge loan, which was terminated without penalty.
The refinanced bridge loan was a 364-day, $110 million secured term loan issued by Goldman Sachs Bank USA in November 2025 to help fund Phreesia’s acquisition of AccessOne Parent Holdings, Inc. and its subsidiaries.
Phreesia had repaid $20 million of the bridge loan during the fiscal quarter ended January 31, 2026, prior to the refinancing.
The new facility, with Capital One, National Association serving as agent for lenders, also replaces the company’s previous $50 million asset-based revolving credit facility, which had no outstanding borrowings and was terminated without penalty.
Remaining funds available under the new credit facility may be used for working capital, capital expenditures, acquisitions and other general corporate purposes, the company said.
“This refinancing is consistent with our stated plan to replace the bridge loan with a long-term revolving credit facility,” said Chaim Indig, Phreesia’s CEO and co-founder, adding that the move is expected to reduce borrowing costs and increase financial flexibility.
Additional details are available in the company’s Form 8-K filed with the Securities and Exchange Commission on March 16, 2026.
Phreesia, founded in 2005, provides digital tools designed to support patient engagement and administrative processes across healthcare organizations.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.