White Oak Healthcare Finance acted as sole lender and administrative agent on the funding of a $42.3 million asset-based senior credit facility for Cascadia Healthcare, which operates skilled nursing facilities located in Idaho, Washington, Oregon, Montana, Arizona and New Mexico. The funds will primarily be used to fund Cascadia’s growth and ongoing working capital needs.
“Cascadia has quickly become one of the leading regional skilled nursing operators in the western U.S. and we are excited to partner with them as they grow their enterprise,” Ross Eldridge, executive vice president and COO at White Oak, said.
“White Oak provided a flexible and scalable capital solution for our growth plans,” Owen Hammond, CEO of Cascadia, said. “Their depth of industry experience and credit expertise enabled us to structure a financing that will provide valuable capital for us going forward.”