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White Oak Healthcare Finance Closes Senior Credit Facility for Linden-Backed Virtus Pharmaceuticals

December 04, 2019, 08:55 AM
Filed Under: Pharmaceuticals

White Oak Healthcare Finance, LLC announced that it acted as sole lender and administrative agent on a senior credit facility for Virtus Pharmaceuticals, a portfolio company of Linden Capital Partners (“Linden”). Proceeds were used to refinance existing debt and provide liquidity for strategic initiatives and working capital.

“Virtus has a great team that has assembled a portfolio of differentiated products in underserved markets,” said Ross Eldridge, Managing Director at White Oak. “We are excited to partner with both Virtus and Linden on this pivotal transaction, and we look forward to supporting their continued growth.”

Virtus is a specialty pharmaceuticals company with a nimble business model that enables execution efficiency, supply chain flexibility, and rapid speed to market.

“White Oak provided us with the flexible capital that we need at this stage of our growth,” said Vinod Melvani, CEO of Virtus. “Having the support of Linden and a financing partner in White Oak that has real pharmaceutical domain expertise will help bolster our growth plans going forward.”

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