ALEXANDRIA, Va. & STOUGHTON, Mass.–(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 $57.2 million senior credit facility and revolving line of credit to Pointe Group Care LLC (“PGC”), an owner and operator within the skilled nursing and assisted living industry.
The funds were used for working capital, to refinance existing debt, and to support the acquisition of four additional long-term care facilities located in Florida.
“We are pleased with yet another opportunity with PGC, a long-standing Oxford customer,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “PGC’s entire management team has performed at a high level both before and throughout the pandemic. We are confident they will bring their clinical excellence and high-quality care to residents in these new markets.”
“We are excited with the continued growth and excellent relationship we have built with Oxford,” stated Ben Berkowitz, CEO of Pointe Group Care. “PGC is thrilled to bring the high-quality services it delivers to seniors every day to these new properties in Florida.”
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 Pointe Group Care LLC
Pointe Group Care LLC is a privately owned and managed skilled nursing and senior living provider based in Stoughton, MA. It operates skilled nursing and rehabilitation centers as well as assisted living communities in Massachusetts and Florida.