White Oak Healthcare Finance acted as lead lender and administrative agent on the funding of a $40 million asset-based senior credit facility for LifeCare Holdings. The funds were primarily used to refinance existing indebtedness.
White Oak previously financed LifeCare Home Health, the home health entity owned by LifeCare.
“LifeCare serves a very critical need as they provide intensive and specialized post-acute care services to patients with serious and critically complex conditions,” Ross Eldridge, managing director at White Oak, said. “We are excited to partner with its very experienced management team and support their strategic plans.”
Founded in 1992, LifeCare is a healthcare services provider in the segment of long-term acute care. Its system consists of 19 long-term acute care hospitals, two transitional care centers, one wound care center and one behavioral health hospital. Under its Home Health subsidiary, LifeCare operates multiple certified home health agencies.
“White Oak again has proven to be a flexible partner for LifeCare offering certainty of execution,” Jim Murray, CEO of LifeCare, said. “We continue to advance health, healing and recovery across the continuum of care.”
