ALEXANDRIA, Va., Jan. 26, 2012 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that it provided $8.5 million in senior debt to affiliates of Benchmark Healthcare ("Benchmark"). The financing package included a $7.5 million senior secured term loan and a $1 million revolving line of credit. Proceeds of the term loan are being used to refinance existing debt and fund capital improvements at the company's skilled nursing facilities. The revolving line of credit is being used for working capital. Creative Health Capital served as financial advisor to Benchmark.
"Oxford is pleased to provide financial support to Benchmark," said Christopher A. Herr, managing director for Oxford Finance. "The company has an experienced management team with a longstanding reputation for providing quality skilled nursing services in the Midwest and Southeast."
"Oxford was a pleasure to work with throughout this process. Once our financing needs were identified, Oxford presented a solution that worked well for both Benchmark and Oxford," said John M. Sells, president and chief executive officer of Benchmark. "We could tell from the start that the Oxford/Benchmark relationship was more of a partnership than the typical financing relationship."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences 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 $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 Benchmark Healthcare
Benchmark Healthcare is a family-owned company that has provided quality long-term care services for over 75 years. Currently, Benchmark Healthcare operates 19 skilled nursing facilities and two assisted living facilities throughout Missouri and Tennessee. The home office is based out of Chesterfield, Missouri. The company has experienced a lot of recent growth through acquisitions and new developments and intends on continuing this growth. The company has also expanded its market by providing ancillary services to long-term care facilities including pharmaceutical and rehabilitation. For more information visit www.benchmarkhealthcare.net.
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