Oxford Finance, a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, closed a $57.2 million senior credit facility and revolving line of credit with Pointe Group Care, an owner and operator within the skilled nursing and assisted living industry.
The funds were used for working capital, to refinance existing debt, and to support the acquisition of four additional long-term care facilities located in Florida.
“We are pleased with yet another opportunity with PGC, a long-standing Oxford customer,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “PGC’s entire management team has performed at a high level both before and throughout the pandemic. We are confident they will bring their clinical excellence and high-quality care to residents in these new markets.”
“We are excited with the continued growth and excellent relationship we have built with Oxford,” Ben Berkowitz, CEO of Pointe Group Care, said. “PGC is thrilled to bring the high-quality services it delivers to seniors every day to these new properties in Florida.”
