Oxford Finance extended US $11.5 million debt financing to Continuum Healthcare. The amount consists of revolving line of credit worth US $1.5 million and senior secured term loan amounting to US $10 million.
Continuum, which operates nursing homes and day care centers, will use the loan to obtain The Health Center at Galloway and Galloway Pediatric Medical Day Center in New Jersey.
In a statement, Continuum's owner Eugene Ehrenfeld said "Oxford's team has a deep understanding of the skilled nursing industry."
"The entire process from signing the term sheet through closing was efficient, and I look forward to continuing to work with Oxford on future transactions," Ehrenfeld added.
Christopher Herr, Managing Director of Oxford Finance, said they are happy to support Continuum in the latest acquisition.
"Continuum has an impressive management team and a reputation for providing quality care for its senior residents, as well as the children in its day care centers," he said.
Headquartered in Alexandria, Virginia, Oxford has already extended around US $2 billion in loans, with packages ranging from half a million to US $50 million.
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