Oxford Finance closed a $104.3 million senior secured credit facility to Epic Healthcare Staffing, a portfolio company of private equity firm Webster Equity Partners. The proceeds will be used to fund the acquisition of Orbis Data Solutions, refinance existing debt, fund future acquisitions and for general working capital purposes.
“Epic has a proven name in the healthcare staffing industry and serves multiple segments within the marketplace,” Tracy S. Maziek, head of healthcare services at Oxford Finance, said. “Oxford is excited to help the company diversify market presence, grow customer base and support continued growth.”
Webster Equity Partners formed Epic Healthcare Staffing in March 2018 as a diversified national provider of staffing services to healthcare and life sciences industries. Epic was formed through the combination of Cirrus Medical Staffing, Emerald Health Services, PharmaLogics Recruiting, Guardian Health Services and Orbis Clinical.
“The refinancing and concurrent acquisition of Orbis Data Solutions to Epic Healthcare Staffing’s life science segment will deepen our relationships with clients while also adding new areas to provide services,” Mehran Ahmed, principal at Webster Equity Partners, said. “At this time, we see a particular need to increase the efficiency of the drug development process and are excited to help on this front.”
“We are thrilled to be partnering with Orbis Data and believe this combination will help both businesses in the coming years,” Mark Siegel, CEO of Epic Healthcare Staffing, said. “We are excited to have Oxford as our financing partner as we continue to serve our customers and drive growth for years to come.”
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies.
