Oxford Finance, a specialty finance firm that provides senior debt to healthcare services and life sciences companies, closed a senior credit facility and revolving line of credit for Renalogic, a health consultant for dialysis risk management and cost containment solutions.
Proceeds from the transaction were used to support growth initiatives and to partially fund the recapitalization of Renalogic by Carrick Capital Partners, an investment firm focused on software and software-enabled businesses.
“Oxford is proud to support a company focused on novel solutions for kidney disease management, with an emphasis on preventing the need for dialysis,” Tracy Maziek, head of healthcare services at Oxford Finance, said. “Renalogic is a market leader in its niche and backed by an experienced sponsor with a track record of successfully scaling healthcare IT businesses. The partnership provides a strong foundation for continued growth and success.”
“Renalogic has experienced significant growth over the last several years by helping health plans and their members reduce risk associated with CKD,” Lisa Moody, CEO at Renalogic, said. “Oxford has prior experience lending to the risk management and cost containment industry, and we are happy to have their support as a capital partner as we continue to scale our business.”
“The Oxford team was able to provide a flexible financing solution to support our investment in Renalogic,” Chris Wenner, managing director at Carrick Capital Partners, said. “We are pleased to complete our first transaction with Oxford.”
