ALEXANDRIA, Va. & RICHMOND, Va.–(Small business WIRE)–Feb 2, 2021–
Oxford Finance LLC (“Oxford”), a specialty finance business that presents senior credit card debt to healthcare expert services and lifestyle sciences corporations all over the world, nowadays announced the closing of a $47 million senior credit score facility to Averhealth (or “the Company”), a service provider of compound use screening and checking providers tailor-made to the special requirements of courts and social assistance companies. Averhealth is a portfolio firm of Five Arrows Money Partners (“Five Arrows”), the PE expenditure system of Rothschild & Co., a world advisory and asset administration business.
Proceeds from the transaction are currently being utilised for standard doing work cash, to refinance current debt, and for permitted acquisitions.
Founded in 1995, Averhealth is a provider of drug testing, client administration, and assistance services to substance use problem (“SUD”) rehabilitation packages managed by nearby, county, and condition federal government companies and courts. Currently, Averhealth serves far more than 1,800 courts and treatment suppliers throughout 30 states, integrating all compound use monitoring routines.
“We are thrilled to make investments in a organization with an innovative blend of technology and lab tests solutions,” said Tracy S. Maziek, head of health care providers at Oxford Finance. “Averhealth’s unique provider presenting has set it aside from other players in the toxicology screening industry, supporting to make improvements to all round degrees of individual treatment in our country’s struggle versus the ongoing material abuse epidemic.”
“From our initial discussions with Oxford, it was distinct they understood the one of a kind value proposition provided by Averhealth to its clients,” said Jason Herzog, CEO of Averhealth. “We are thrilled to be partnering with a agency that understands the special requires of our company and has provided the capacity to aid our ongoing growth.”
“The Oxford group worked rapidly to get up to speed on a complicated enterprise,” explained Michael Langer, managing director at 5 Arrows. “They regarded the requirements and troubles of our fast increasing business and created a construction that not only solved for our speedy demands but also furnished flexibility for potential development.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm delivering senior secured financial loans to general public and personal lifetime sciences and healthcare companies businesses worldwide. For in excess of 20 many years, Oxford has shipped flexible funding options to its customers, enabling these organizations to optimize their fairness by leveraging their property. In the latest a long time, Oxford has originated around $6 billion in loans, with traces of credit history ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with supplemental places of work in San Diego, Calif. Palo Alto, Calif. and the larger Boston and New York Metropolis areas. For additional details, check out https://oxfordfinance.com/
Considering the fact that 1995, Averhealth has specialised in providing substance use tests and checking companies tailor-made to the exceptional desires of judicial courses that operate at the holistic intersection of justice-involved and behavioral overall health. These days, Averhealth serves far more than 350,000 customers throughout 30 states. Every single factor of the Averhealth answer incorporates proof-based mostly tactics, positioning systems and shoppers for the most effective attainable consequence. Random variety, day-to-day engagement, sturdy sample collection, and next small business day success incorporate to support consumers establish coping and refusal techniques to new-use occasions. With Averhealth’s agile and quick-to-navigate application and automation resources, it streamlines your day by day workflow and in the long run supports recovery. For additional info, please pay a visit to: https://www.averhealth.com.
About Five Arrows Cash Partners
5 Arrows Funds Partners is the North American company non-public fairness small business of Rothschild & Co. Merchant Banking (RMB), the expenditure arm of Rothschild & Co. With workplaces in London, Paris, Luxembourg, New York and Los Angeles, RMB has over $15 billion of assets underneath administration. Like RMB’s European company personal equity company, FACP is focused on investing in center sector companies with extremely defensible market place positions, company styles with a confirmed record of generating eye-catching returns on invested capital across financial cycles and multiple untapped levers for value creation. Sector emphasis of FACP is on health care enterprise providers and information, software package & know-how-enabled companies. For extra details, you should visit https://www.rothschildandco.com/en/service provider-banking/company-personal-equity.
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PUB: 02/02/2021 10:00 AM/DISC: 02/02/2021 10:01 AM