White Oak Healthcare Finance Closes $20 Million Financing For Fox Rehabilitation
Sep. 04, 2018
NEW YORK--(BUSINESS WIRE)--Sep 4, 2018--White Oak Healthcare Finance, LLC (“White Oak”), today announced it acted as sole lender and administrative agent on the funding of a $20 million asset based senior credit facility for Fox Rehabilitation, Inc. (“Fox”). The funds were primarily used to refinance existing indebtedness and support continued growth.
Fox provides physical, occupational and speech therapy services to help geriatric patients regain a better quality of life. “We are excited to partner with a practice that is so highly focused on clinical outcomes. By investing in people and processes, Fox has demonstrated the unique ability to maintain continuity of care while expanding throughout the country,” said Ross Eldridge, Managing Director at White Oak.
Founded in 1998, Fox provides rehabilitation services in patients’ homes, assisted living communities, and adult day care centers. The practice’s founder and CEO, Dr. Timothy Fox, is a Board Certified Geriatric Clinical Specialist Emeritus, Physical Therapist and a thought leader in programs and protocols for geriatric care. Today, Fox employs over 1,000 salaried clinicians, serving 16 states in the United States.
“With the White Oak facility, we are confident in our ability to continue to invest in our people, believe in the strength of our people and give them the tools they need to succeed. Our three-year plan will focus on investment in technology and process to increase efficiency. The capital will allow us to bring our clinically excellent care and outcomes to more states throughout the US in order for us to help older adults achieve what they once thought impossible – optimal function,” said Dr. Tim Fox.
“White Oak Healthcare Finance demonstrated a clear understanding of our business. We value the team’s consistent communication, speed of execution and the great relationship we have,” added Dr. Fox.
About Fox Rehabilitation
Fox is a clinician owned and operated professional private practice of physical therapists, occupational therapists, and speech pathologists, built on the foundation of Geriatric House Calls™. The practice has always stayed true to its mission of rehabilitating lives by believing in the strength of people. Clinicians are given the autonomy to provide excellent clinical care through evidence-based interventions and best practice guidelines. For more information, visit www.foxrehab.org.
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.
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: White Oak Global Advisors
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES PHARMACEUTICAL PROFESSIONAL SERVICES FINANCE MEDICAL SUPPLIES GENERAL HEALTH MANAGED CARE PHYSICAL THERAPY
SOURCE: White Oak Global Advisors, LLC
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PUB: 09/04/2018 09:00 AM/DISC: 09/04/2018 09:01 AM