Oxford Provides $8.5 Million Financing to Benchmark Healthcare
Oxford Finance announced it provided $8.5 million in senior debt to affiliates of Benchmark Healthcare. The financing package included a $7.5 million senior secured term loan and a $1 million revolving line of credit.
Proceeds of the term loan are being used to refinance existing debt and fund capital improvements at the company’s skilled nursing facilities.
The revolving line of credit is being used for working capital. Creative Health Capital served as financial advisor to Benchmark.
“Oxford is pleased to provide financial support to Benchmark,” said Christopher A. Herr, managing director for Oxford Finance. “The company has an experienced management team with a longstanding reputation for providing quality skilled nursing services in the Midwest and Southeast.”
“Oxford was a pleasure to work with throughout this process. Once our financing needs were identified, Oxford presented a solution that worked well for both Benchmark and Oxford,” said John M. Sells, president and chief executive officer of Benchmark. “We could tell from the start that the Oxford/Benchmark relationship was more of a partnership than the typical financing relationship.”