ALEXANDRIA, VA, December 2, 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 syndicated senior secured term loan and a revolving line of credit with Chosen Healthcare (the “Company”). Oxford served as administrative agent and sole bookrunner on the unitranche term loan and sole lender on the revolver. CIT Bank, N.A. and Opus Bank were co-lenders on the transaction. Funds were used to recapitalize the Company and position it for future growth.
Chosen Healthcare communities provide short-term and long-term residents with a warm and caring environment while delivering cutting-edge quality medical care and rehabilitation. Services range from adult day care, memory care, speech and physical therapy to assisted or independent living, rehabilitation, Huntington’s disease care, pain management and hospice.
“Oxford appreciates the opportunity to provide capital to Chosen Healthcare to support their thriving and expanding network of long-term care facilities,” said Tracy S. Maziek, managing director at Oxford Finance. “We have done multiple transactions with the management team at Chosen Healthcare, and greatly respect their high operating standards.”
“Oxford has been a reliable source of capital for my firm over several years,” said an executive at Chosen Healthcare. “Having worked with Oxford before, I knew I could depend on them to execute the details of the deal as promised. This was a complex transaction, and it illustrated Oxford’s creativity and ability to work with multiple lenders on large credit facilities.”
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 and North Carolina. For more information visit www.oxfordfinance.com.
About Chosen Healthcare
The Chosen Healthcare family has 22 skilled nursing facilities and one assisted living facility in Indiana, Iowa and Texas. Its communities are focused on rehabilitation with the goal of getting short-term and long-term residents back to enjoying their lives fully. Chosen Healthcare takes pride in its communities and its care specialties, including but not limited to exceptional memory care and even a nationally recognized Huntington’s disease care facility. Some of its communities feature assisted living and independent living. For more information visit www.chosenhealthcare.com.