Oxford Finance, a specialty finance firm providing senior debt to healthcare services and life sciences companies, closed a $27.5 million senior credit facility for Cascades Healthcare, an owner and operator of long-term care facilities, which will use the funds for the acquisition of four skilled nursing facilities (SNFs) located in Texas containing 647 licensed beds.
Cascades Healthcare was founded in 2016 to build and coordinate a network of associated senior care. The company currently operates 19 SNFs in Utah, Idaho and Texas, provides operational support to three home health and hospice companies and manages a multi-state contract therapy company.
“Oxford is pleased to complete our first transaction with Cascades,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “The team at Cascades operates with a clear mission — combining clinical expertise with a true appreciation for each patient they encounter and their unique challenges.”
“With their vast expertise in the healthcare sector, Oxford was an obvious choice as a financial partner,” Darin McSpadden, CEO of Cascades Healthcare, said. “The team was able to quickly recognize our needs, provide flexible solutions and execute the transaction as promised.”
