ALEXANDRIA, VA, January 28, 2015 – Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $7.4 million senior secured term loan with Vita Healthcare Group LLC (“Vita Healthcare”). The funds will be used for the purchase of Diamond Hill Nursing and Rehabilitation Center in Troy, New York.
“Oxford is pleased to have the opportunity to provide financing to Vita Healthcare for the continued expansion of its portfolio of skilled nursing facilities,” said Christopher A. Herr, managing director for Oxford Finance. “This company has a proven track record of acquiring existing properties and rapidly improving cost efficiency and operating procedures.”
“We are thrilled to continue our relationship with the team at Oxford Finance,” said Michael Netzer and Israel Birnbaum of Vita Healthcare. “Oxford’s expertise, knowledge, and commitment to providing unique financial solutions are unparalleled in the skilled nursing industry.”
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 $2 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina. For more information visit www.oxfordfinance.com.
About Vita Healthcare Group LLC
Vita Healthcare Group, based in New Jersey, provides sub-acute, rehabilitative, and long-term specialty care services in the Northeast region, and is committed to providing the highest level of care and professionalism to its residents and the surrounding communities. In future investments, Vita Healthcare is seeking to grow in the Mid-Atlantic region. For more information visit www.vitahealthcaregroup.com.