ALEXANDRIA, Va.–(BUSINESS WIRE)–Oxford Finance LLC (“Oxford”), a leading specialty finance firm providing senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $27.5 million senior credit facility to Cascades Healthcare (“Cascades” or “the Company”), an owner and operator of long term care facilities. The funds were used for the acquisition of four skilled nursing facilities (“SNFs”) located in Texas containing 647 licensed beds.
Cascades Healthcare was founded in 2016 to build and coordinate a network of associated senior care. The Company currently operates 19 SNFs in Utah, Idaho, and Texas, as well as providing operational support to three home health and hospice companies and managing a multi-state contract therapy company.
“Oxford is pleased to complete our first transaction with Cascades,” said Tracy S. Maziek, head of healthcare services at Oxford. “The team at Cascades operates with a clear mission—combining clinical expertise with a true appreciation for each patient they encounter and their unique challenges.”
“With their vast expertise in the healthcare sector, Oxford was an obvious choice as a financial partner,” added Darin McSpadden, CEO of Cascades Healthcare. “The team was able to quickly recognize our needs, provide flexible solutions, and execute the transaction as promised.”
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 $7 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/