Oxford Finance, a finance firm providing senior debt to life sciences and healthcare services companies, closed a $122 million senior credit facility for Tarrytown, a Texas-based closed-door, long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities. Proceeds from the transaction were used to finance an add-on acquisition.
Oxford originally provided Tarrytown with an $87.5 million senior credit facility in December 2019. The originally facility was used to support the recapitalization of the business by Sheridan Capital Partners, a Chicago-based healthcare private equity firm.
“While operating in challenging times, Tarrytown has demonstrated its vital importance to customers in the IDD space,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “We focus on consistently delivering for growing clients that show adaptability in all operating environments.”
“Since closing of the initial investment, Oxford has been very supportive of the business by helping us close three significant acquisitions,” Mark Newberry, founder and CEO of Tarrytown, said. “The team was highly responsive and appreciative of Tarrytown’s differentiated position in our underserved niche.”
“Oxford’s support has been integral to our expansion plan,” Sean Dempsey, a partner at Sheridan Capital Partners, said. “They delivered on original commitments and increased them as our needs changed.”
