ALEXANDRIA, Va. and NOVI, Mich., September 26, 2019—Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a $109.8 million term loan to Optalis Healthcare (“Optalis” or “the Company”), the term loan included $29.8 million junior capital provided by Oxford. Optalis is a leading skilled nursing and senior living company based in Novi, MI. The proceeds will be used for the acquisition of four skilled nursing facilities and one assisted living facility from the Premier Healthcare Management joint venture. The acquisition includes 890 beds in Oakland and Macomb Counties.
Optalis, whose principals are Raj Patel, Hemant Shah, and Charles Dunn, now owns 15 facilities in three states with over 3,000 employees, with annual revenues exceeding $200 million and Total Assets value exceeding $400 million.
“Oxford is excited to partner with Optalis and help support their growth initiatives,” said Tracy S. Maziek, head of healthcare services at Oxford Finance.
“Optalis is thrilled to partner with Oxford, a lender that truly understands the current industry dynamics, in pursuit of its growth strategy,” said Raj Patel, CEO of Optalis.
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 $5 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/