HFG Provides Debt Financing to Home Care by Black Stone
Healthcare Finance Group, a portfolio company of Fifth Street Finance, announced it is the sole lender of a financing comprised of a $7.5 million A/R-backed revolving line of credit and a $5 million senior term loan.
The purpose of the financing is to fund the company’s working capital needs and its future acquisitions.
David Tramontana, CEO of Black Stone, commented, “Black Stone is committed to providing the very best possible service to our clients and we appreciate the responsive and excellent service we have received from HFG. The financing is designed to provide our Ccompany with growth capital to meet our expansion goals.”
Steven Goldsmith, SVP, Business Development at HFG said, “HFG is very pleased to be able to provide this financing to such a caring and growing company. Our understanding of the healthcare markets facilitated our ability to be creative in structuring this transaction. We appreciate Black Stone’s confidence in us and we look forward to being Black Stone’s financing partner for many years to come.”
Cincinnati-based Home Care by Black Stone (Black Stone) has been providing the elderly and disabled with companionship, housekeeping and non-medical services since 1996.