ALEXANDRIA, Va., and CEDARHURST, N.Y. –(BUSINESS WIRE)–Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $7.4 million senior credit facility and revolving line of credit to REACH LTC (“REACH” or “the Company”), a provider of short and long-term skilled care options. The proceeds are being used for general working capital and the acquisition of one skilled nursing facility located in Town and Country, MO containing 282 licensed beds.
Today, REACH is setting new standards in quality, service, and innovation. Focusing on patient-centered treatment plans, REACH provides an ever-increasing range of services including advanced pulmonary rehab, complex wound care treatment, on-site hemodialysis, and an innovative memory care program. REACH seeks to truly integrate with the surrounding community and add value to the surrounding hospital systems. The team is excited to roll out its Employee Partnership Bonus Structure that rewards front-line staff for quality outcomes.
“REACH brings a regional focus to the Town and Country facility along with significant investment in the property expected to enhance resident experiences and staff capabilities,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “Oxford is pleased to support the Company’s mission of bringing better quality of care to the St. Louis market.”
“Our goals continue to be centered around improving the markets we are in, by way of superior clinical care, competitive compensation for our staff, and capital investment in the physical plant to bring the aesthetics up to the standard of the surrounding community. We look forward to the opportunity to demonstrate our commitment to these values and our operational aptitude,” stated a REACH executive.
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
About Reach LTC
Founded on a tradition of healthcare excellence, REACH LTC is a leading provider of short-term post-acute rehabilitation as well as long-term and specialty care in the state of Missouri. REACH sets itself apart with its foresight of providing high acuity and specialty programs as the industry transitions into the next iteration of post-acute care. From Five-Star Quality Ratings to a dedicated and caring staff, resident care, wellbeing, and satisfaction are always on the top of REACH LTC’s priority list.