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Oxford Finance Closes $104.3MM Credit Facility with Epic Healthcare Staffing

March 12, 2020, 08:55 AM
Filed Under: Staffing Services

Oxford Finance LLC, a specialty finance firm that provides senior debt to healthcare services and life sciences and companies worldwide, today announced the closing of a $104.3 million senior secured credit facility to Epic Healthcare Staffing, a portfolio company of Webster Equity Partners. The proceeds will be used to fund the acquisition of Orbis Data Solutions, refinance existing debt, fund future acquisitions, and for general working capital purposes.

Founded in 2003, Webster Equity Partners is a private equity firm that partners with healthcare service companies with a focus on high impact growth strategies and sustainable business models. In March 2018, the firm formed Epic Healthcare Staffing—a diversified national provider of staffing services to healthcare and life sciences industries. Epic was formed through the combination of Cirrus Medical Staffing, Emerald Health Services, PharmaLogics Recruiting, Guardian Health Services, and Orbis Clinical.

"Epic has a proven name in the healthcare staffing industry and serves multiple segments within the marketplace," said Tracy S. Maziek, head of healthcare services at Oxford Finance. "Oxford is excited to help the Company diversify market presence, grow customer base, and support continued growth."

"The refinancing and concurrent acquisition of Orbis Data Solutions to Epic Healthcare Staffing's life science segment will deepen our relationships with clients while also adding new areas to provide services," said Mehran Ahmed, principal at Webster Equity Partners. "At this time, we see a particular need to increase the efficiency of the drug development process and are excited to help on this front."

"We are thrilled to be partnering with Orbis Data and believe this combination will help both businesses in the coming years," commented Mark Siegel, CEO of Epic Healthcare Staffing. "We are excited to have Oxford as our financing partner as we continue to serve our customers and drive growth for years to come."

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