FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


HFG Provides $12.5MM Senior Debt Financing to Home Care by Black Stone

April 07, 2014, 07:43 AM
Filed Under: Healthcare

Home Care by Black Stone ("Black Stone"), based in Cincinnati, Ohio, is a regionally focused home care services company providing a full spectrum of skilled nursing and related home health services with highly trained home health and personal care personnel. The company has grown substantially, both organically and through acquisitions, since its founding in 1996 and today operates out of 15 offices spread across Southwest Ohio.

Healthcare Finance Group, LLC ("HFG"), a portfolio company of Fifth Street Finance Corp., is the sole lender of the financing which is comprised of a $7.5 million accounts receivable backed revolving line of credit and a $5.0 million senior term loan. The purpose of the financing is to fund the company's working capital needs and its future acquisitions.

David Tramontana, Chief Executive Officer of Black Stone, commented, "Black Stone is committed to providing the very best possible service to our clients and we appreciate the responsive and excellent service we have received from HFG. The financing is designed to provide our Company with growth capital to meet our expansion goals."

Steven Goldsmith, Senior Vice President, Business Development at HFG said, "HFG is very pleased to be able to provide this financing to such a caring and growing company. Our understanding of the healthcare markets facilitated our ability to be creative in structuring this transaction. We appreciate Black Stone's confidence in us and we look forward to being Black Stone's financing partner for many years to come."
Home Care by Black Stone ("Black Stone") has been a leader in providing the elderly and disabled with companionship, housekeeping, and non-medical services since 1996.  The company serves clients in Cincinnati, Dayton, Columbus and surrounding areas in Southwest Ohio.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.