White Oak Healthcare Finance acted as sole lender and administrative agent for a $395 million senior credit facility for Genesis Healthcare.
With roots dating back to 1985, Genesis Healthcare is a holding company with subsidiaries that, on a combined basis, offer services to more than 250 skilled nursing facilities and assisted/senior living communities in 22 states in the United States.
“Genesis is a well-established and important health care provider in the post-acute/long-term care continuum. We are very excited to be their financing partner and to help them continue to provide high-quality services to this important population,” Isaac Soleimani, chairman and CEO of White Oak Healthcare Finance, said. “Being able to provide and hold the entire credit facility underscores our commitment to the industry and ability to deliver certainty of execution for our clients.”
“We are excited about our partnership and strong relationship with White Oak,” David Harrington, executive chairman of Genesis Healthcare, said. “White Oak has a deep understanding of the skilled nursing industry as well as the challenges and opportunities within our sector. Their unique combination of domain expertise, flexibility and transparency made the process very efficient and a great pleasure for us. This loan is an important step in the restructuring of Genesis as a leader in high-quality health care service delivery.”
