Oxford Finance LLC Provides $15 Million Revolving Credit Facility to Mid-Atlantic Health Care, LLC
ALEXANDRIA, Va., July 26, 2011 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life science and healthcare services companies, today announced that it closed a $15 million revolving line of credit with Mid-Atlantic Health Care, LLC. These funds will be used for working capital over the next several years, and will support the company's recent expansion into the Philadelphia market.
"Oxford is pleased to extend a line of credit to Mid-Atlantic Health Care, a company with a reputation for providing quality senior housing and acute rehabilitation in Maryland and Delaware for nearly ten years," said Christopher A. Herr, managing director for Oxford Finance LLC. "We are impressed with its business model and plans to expand rehabilitation services to patients in order to provide a better quality of life."
"Mid-Atlantic appreciated Oxford's willingness to be flexible and serve our needs on this large project. They understood the nature of the receivables and the reliability of the payors," said Scott Rifkin, M.D., Managing Partner of Mid-Atlantic Health Care. "Oxford understood our business and our ability to improve that business, allowing us to jointly structure a line of credit that would help us to succeed."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life science 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 $1.5 billion in loans, with lines of credit ranging from $500 thousand to $40 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About Mid-Atlantic Health Care, LLC
Mid-Atlantic Health Care, which was started in 2003 by Scott Rifkin, M.D., provides senior care and nursing rehabilitation services to approximately 2,000 residents in Maryland, Delaware, and Pennsylvania. It is headquartered in Baltimore, Maryland, and serves city, suburban, and rural populations. Mid-Atlantic combines experienced clinicians with proprietary technology to proactively manage the care it delivers to its residents. Mid-Atlantic is rapidly becoming a new breed of "LTC Care Manager," a company that understands how to work as a cost and quality control partner within the emerging healthcare environment.
SOURCE Oxford Finance LLC
