White Oak Healthcare Finance Closes $82 Million Loan for Caregiver Inc.
NEW YORK--(BUSINESS WIRE)--Apr 2, 2019--White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as sole lender and administrative agent on the funding of a $82 million senior credit facility for Caregiver, Inc. (“Caregiver”), a behavioral health company backed by both DW Healthcare Partners (“DWHP”) and Council Capital (“Council”).
“We are very happy to again partner with DWHP and for the first time with Council given their collective deep experience in the sector. As a leading healthcare lender, we believe in the mission of the company and the importance of the services it provides to this population,” said Ross Eldridge, Managing Director at White Oak.
Caregiver provides residential and long-term support services to people with intellectual and developmental disabilities (“IDD”) – allowing consumers to live their most fulfilling life fully integrated into local community settings.
“It was great to work with the team at White Oak. In addition to providing us with a compelling financing package, their flexibility and knowledge of IDD is broad,” said Aly Champsi, Managing Director at DWHP. “White Oak did an exceptional job creating a facility that will enable Caregiver the flexibility to continue its rapid expansion,” said Eric Keen, General Partner at Council Capital.
Caregiver, Inc., is a privately-held company with nearly 3700 employees within the headquarters support group and branded affiliate organizations in four states. The affiliates provide intermediate, home and community care services to over 2800 individuals who qualify IDD or are impacted by related conditions. Caregiver, Inc. was formed in 2015 and now includes these affiliates: Unified Care Group, Southern Concepts, River Gardens, Daybreak Community Services Inc., St. Giles Living Centers, DSA of Indiana, HHC of Ohio, and Omni Support Services of Tennessee. All have similar service offerings and strong reputations in their local communities. Caregiver services include supported home living, family protective services, case coordination, nursing services, respite services, day habilitation, psychology services, dental treatment, specialized therapies, adaptive aids, minor home modifications, and supported employment.
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com
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CONTACT: Jonathan Setiabrata
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: SMALL BUSINESS PROFESSIONAL SERVICES BANKING FINANCE OTHER PROFESSIONAL SERVICES
SOURCE: White Oak Healthcare Finance, LLC
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PUB: 04/02/2019 09:00 AM/DISC: 04/02/2019 09:01 AM