ALEXANDRIA, Va., July 20 /PRNewswire/ -- Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, today announced that it entered into a $20 million loan agreement with United Orthopedic Group (UOG), which includes a $10 million growth capital loan and a $10 million revolving line of credit. These funds will be used to support the continued expansion of UOG's business and product line. UOG is a global, privately-held holding company with diverse operations, including manufacturing and service divisions focused on non-invasive orthopedic and orthotic rehabilitation products.
"Oxford is pleased to provide United Orthopedic Group with additional capital to further their company's development," said Christopher Herr, Managing Director of Oxford Finance Corporation. "They have an impressive product line with an established distribution network within the orthopedic sector and an innovative business model, which makes it a great addition to Oxford's diverse portfolio."
"We are excited to begin a partnership with Oxford through our recent debt refinancing," said Joel Radtke, Chief Financial Officer of United Orthopedic Group. "We are a rapidly growing company and Oxford has provided a capital structure and lending relationship well-suited to our needs."
About Oxford Finance Corporation
A subsidiary of Sumitomo Corporation, Oxford is a specialty finance firm providing senior secured loans to public and private life science and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1.5 billion in loans, with lines of credit ranging from $500 thousand to $40 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information visit www.oxfordfinance.com.
About United Orthopedic Group, Inc.
Formed in 2007 with equity funding from Essex Woodlands Health Ventures, United Orthopedic Group is a privately-held holding company focused on the large and growing orthopedic and orthotic marketplace. Through its subsidiaries, UOG manufactures and distributes a broad line of non-invasive rehabilitative products and offers a diverse set of complementary services designed to increase clinical effectiveness and patient satisfaction.
SOURCE Oxford Finance Corporation