NEW YORK--(BUSINESS WIRE)--White Oak Healthcare Finance LLC (“White Oak” or “WOHCF”) acted as sole lender and administrative agent on the funding of a $42.3 million asset-based senior credit facility for Cascadia Healthcare, Inc. (Cascadia). The funds will primarily be used to fund Cascadia’s growth and ongoing working capital.
Cascadia operates skilled nursing facilities located in Idaho, Washington, Oregon, Montana, Arizona and New Mexico.
“Cascadia has quickly become one of the leading regional skilled nursing operators in the western U.S. and we are excited to partner with them as they grow their enterprise,” said Ross Eldridge, EVP and Chief Originations Officer at White Oak.
“White Oak provided a flexible and scalable capital solution for our growth plans,” said Owen Hammond, CEO of Cascadia. “Their depth of industry experience and credit expertise enabled us to structure a financing that will provide valuable capital for us going forward.”
About Cascadia Healthcare
Cascadia Healthcare is a growing post-acute care provider headquartered in Eagle, Idaho. It currently operates 37 skilled nursing facilities across Idaho, Montana, Washington, Oregon, Arizona, and New Mexico, and is the largest post-acute care provider in Idaho. It has affiliated service lines in home health, hospice and home care, and assisted living and memory care. Formed by four partners in 2015 with a focus on being a “Force for Good” in its service to people and communities, Cascadia Healthcare has maintained a consistent commitment to quality care and outcomes for its residents, and its newly launched partnerships with its affiliated provider-owned Medicare Advantage plan is a next step to enhance that commitment. For more information, visit CascadiaHC.com.
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC, an affiliate of White Oak Global Advisors, LLC, is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Together with its financing affiliates, WOGA provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $10 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.
