White Oak Healthcare Finance Provides Upsized Financing to BRF Hospitals
SHREVEPORT, La.--(BUSINESS WIRE)--Nov 7, 2018--White Oak Healthcare Finance, LLC (“White Oak”), today announced it acted as sole lead arranger and administrative agent on the upsizing of the senior credit facility to University Health System (“UHS”), a division of Biomedical Research Foundation of Northwest Louisiana (“BRF”). BRF manages the University Health System hospitals, formerly known as LSU Health Shreveport and LSU Health E.A. Conway (Monroe).
Proceeds were used to support financing associated with the transfer of hospital operations from BRF to Ochsner Health System, which occurred October 1, 2018. White Oak previously announced the $30 million facility for BRF in April of this year.
“BRF is a safety net hospital and there is a critical need for their services,” said White Oak’s Managing Director Ross Eldridge. “We invest in all subsectors of healthcare and continually strive to focus where the market is missing astute healthcare focused financing partners.”
University Health System provides advanced healthcare for patients in Shreveport, Monroe and surrounding areas. Operating the region’s only Level 1 Trauma Center, UHS combines quality care with research-based methods to provide leading service and 3,000 jobs in the community. UHS is one of just six hospitals in the nation affiliated with St. Jude Children’s Research Hospital and home to state-designated Centers of Excellence, including the Feist-Weiller Cancer Center.
For more information, visit http://www.brfla.org.
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“White Oak” or “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: For White Oak Healthcare Finance, LLC
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA
INDUSTRY KEYWORD: HEALTH PROFESSIONAL SERVICES FINANCE GENERAL HEALTH
SOURCE: White Oak Healthcare Finance, LLC
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PUB: 11/07/2018 09:00 AM/DISC: 11/07/2018 09:35 AM