Conisus LLC

About

Conisus, LLC, through its subsidiaries, provides medical education programs to healthcare professionals. It offers various live activities, as well as online activities, such as archived Webcasts, newsletters, case-based learning programs, and monographs to oncology and hematology physicians, pharmacists, nurses, and other healthcare professionals. The company is also engaged in the strategic planning, development, and implementation of programs and services in the oncology therapeutic areas; and in providing services for product pre-launch, launch, brand extension, and product maturity”-Hoover

BDC Credit Reporter View

5/22/2019: We have scant information about Conisus, but ABDC has been involved with the Company since 2015. In IVQ 2017 second lien debt was converted to Preferred and common by both ABDC and Cion. The value of the position has been marked at a significant discount ever since, but increased in value – though still discounted – in the IQ 2019. This offers some hope that the BDCs involved will – at least – recover their initial investment one day.

Highlights

5/22/2019: In IQ 2019 valuation ABDC increased Preferred value from $6.6mn to $8.2mn. In an Investor Presentation, the reason was given as “improved financial performance”. Still at a (35%) discount. Accruing dividend income at 12% PIK on $12.7mn, or $1.4mn of annual income. The other BDC with exposure – also in Preferred – is Cion, which values its position at or above par.