ALEXANDRIA, Va., Sept. 24, 2013 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that it closed a $13 million senior secured term loan and a $1.5 million revolving line of credit with JAG Healthcare. Proceeds of the loan are being used to acquire six skilled nursing facilities in Ohio, and also as working capital to support these entities.
"JAG Healthcare is highly regarded for the care it provides to its residents and has an established reputation for its specialization in behavioral health issues," said Christopher A. Herr, managing director for Oxford Finance. "We are pleased to provide capital to support JAG Healthcare's seasoned management team and the ongoing operation of its skilled nursing facilities."
"We are proud to be one of the premier providers of long term care in Ohio," said James Griffiths, chief executive officer of JAG Healthcare. "Our operational success is grounded in the depth and expertise of our associates, and our survey record with the Ohio Department of Health is unmatched by any other multi-unit operator in Ohio."
About Oxford Finance LLC
Oxford Finance 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 $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About JAG Healthcare
JAG Healthcare has been very successful finding under-performing facilities in Ohio and using the experience of its operations and clinical team to assess and implement changes that improve the delivery of health care to residents. It focuses on employee support to accelerate changes, connect with local providers of care to improve the census of the facility, and reposition the building to address the needs of the market. For more information visit www.jaghealthcare.com.
SOURCE Oxford Finance LLC