Bulletin: PointClickCare Technologies Inc.'s Proposed Dividend Recapitalization Is Moderately Credit Negative

This report does not constitute a rating action. NEW YORK (S&P Global Ratings) June 3, 2026--S&P Global Ratings today said that PointClickCare Technologies Inc.'s (PCC; B/Stable/--) proposed dividend recapitalization is credit negative, though we anticipate the company's leverage will remain within our expectations for the current rating. PCC plans to launch a $500 million fungible incremental add-on to its existing $1.6 billion term loan B, which it will use--along with up to $150 million of cash on hand--to fund up to $650 million of shareholder dividends. We project the company will increase its organic revenue by the low-double-digit percent area in 2026 on increased bookings, strong commercial progress (including through cross-selling, upselling, and entering new product channels), and an expansion

...June 3, 2026 This report does not constitute a rating action. NEW YORK (S&P Global Ratings) June 3, 2026--S&P Global Ratings today said that PointClickCare Technologies Inc.'s (PCC; B/Stable/--) proposed dividend recapitalization is credit negative, though we anticipate the company's leverage will remain within our expectations for the current rating. PCC plans to launch a $500 million fungible incremental add-on to its existing $1.6 billion term loan B, which it will use--along with up to $150 million of cash on hand-- to fund up to $650 million of shareholder dividends. We project the company will increase its organic revenue by the low-double-digit percent area in 2026 on increased bookings, strong commercial progress (including through cross-selling, upselling, and entering new product channels), and an expansion of billable lives and facility logos across the care continuum. We believe PCC's cloud-based electronic health record (EHR) platforms are deeply entrenched in its customers'...

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