Oxford Finance announced that it closed a $15 million revolving line of credit with Mid-Atlantic Health Care.
The funds will be used for working capital over the next few years and will support Mid Atlantic’s expansion into the Philadelphia market.
“Oxford is pleased to extend a line of credit to Mid-Atlantic Health Care, a company with a reputation for providing quality senior housing and acute rehabilitation in Maryland and Delaware for nearly ten years,” said Christopher A. Herr, managing director for Oxford Finance LLC. “We are impressed with its business model and plans to expand rehabilitation services to patients in order to provide a better quality of life.”
Mid-Atlantic Health Care is a modern skilled care company, that operates seven facilities in the region.
“Oxford understood our business and our ability to improve that business, allowing us to jointly structure a line of credit that would help us to succeed,” said Scott Rifkin, M.D., Managing Partner of Mid-Atlantic Health Care. “They understood the nature of the receivables and the reliability of the payors.”