Healthcare Finance Group, LLC (HFG) announced that it has provided a $25 million senior secured revolving line of credit and a $15 million senior secured term loan to National Home Health Care Corp. (NHHC).
Proceeds of the senior secured financing were used to refinance certain indebtedness and provide capital for ongoing operations.
Founded in 1983, NHHC, through its wholly owned subsidiaries, provides a full spectrum of home healthcare services throughout the Northeast with highly trained home health aides and personal care workers in all five boroughs of New York City, as well as Nassau, Suffolk and Westchester Counties, New York, northern New Jersey, Massachusetts and Connecticut. In addition, NHHC provides medical, behavioral health and pediatric skilled nursing, rehabilitative therapy and social work services throughout Connecticut and Massachusetts.
Robert Heller, CFO of NHHC, stated, “It was a pleasure to work with HFG and we look forward to having them as a financing partner going forward. I was truly impressed by HFG’s ability to execute along the lines they originally indicated and by their strong understanding and expertise of the home care space. We are pleased to have HFG as our new lending partner.”
Regarding the transaction, Steven Goldsmith, senior vice president of HFG, said “This is a very specialized provider of home care services that is well-positioned for growth in both volume and services. We believe that this Senior Secured Financing will enhance their growth prospects and provide additional resources to support their strategic objectives.”
HFG is a specialty lender dedicated exclusively to providing secured debt financing to healthcare companies.