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White Oak Healthcare Finance Closes $40MM Financing for LifeCare Holdings

August 22, 2018, 07:13 AM
Filed Under: Healthcare

White Oak Healthcare Finance, LLC (White Oak), announced it acted as lead lender and administrative agent on the funding of a $40 million asset based senior credit facility for LifeCare Holdings, Inc. (LifeCare). The funds were primarily used to refinance existing indebtedness. White Oak previously announced the financing of LifeCare Home Health LLC, the home health entity owned by LifeCare.

“LifeCare serves a very critical need as they provide intensive and specialized post-acute care services to patients with serious and critically complex conditions,” said Ross Eldridge, Managing Director at White Oak. “We are excited to partner with its very experienced management team and support their strategic plans.”

Founded in 1992, LifeCare is a leading healthcare services provider in the segment of long-term acute care. Its system consists of 19 long-term acute care hospitals, two Transitional Care Centers, one Wound Care Center and one Behavioral Health Hospital. Additionally, under the Company’s Home Health subsidiary, LifeCare operates multiple Certified Home Health Agencies. Powered by passionate care teams, LifeCare specializes in helping patients with expert, aggressive medical care in warm, caring environments.

“White Oak again has proven to be a flexible partner for LifeCare offering certainty of execution,” said Jim Murray, CEO of LifeCare. “We continue to advance health, healing and recovery across the continuum of care.”

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