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Oxford Finance Leads $122MM Financing for Tarrytown Expocare

January 15, 2021, 07:55 AM
Filed Under: Pharmaceuticals

Oxford Finance announced the closing of a $122 million senior credit facility to Tarrytown Expocare, a closed-door long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities (“IDD”).

Proceeds from the transaction were used to finance an add-on acquisition.  Oxford originally provided Tarrytown with an $87.5 million senior credit facility in December 2019, which was used to support the recapitalization of the business by Sheridan Capital Partners.

Tarrytown Expocare, founded in 2013 and headquartered in Austin, Texas, is one of the largest long-term care pharmacies in the United States focused exclusively on the IDD population. Tarrytown has longstanding relationships with over 2,000 group homes throughout the U.S.

“While operating in challenging times, Tarrytown has demonstrated its vital importance to customers in the IDD space,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “We focus on consistently delivering for growing clients that show adaptability in all operating environments.”

“Since closing of the initial investment, Oxford has been very supportive of the business by helping us close three significant acquisitions,” said Mark Newberry, founder and chief executive officer of Tarrytown. “The team was highly responsive and appreciative of Tarrytown’s differentiated position in our underserved niche.”

“Oxford’s support has been integral to our expansion plan,” added Sean Dempsey, partner at Sheridan. “They delivered on original commitments and increased them as our needs changed.”

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