Specialty finance company Oxford Finance said Tuesday that it has provided a $5.5 million loan to PrimeSource Healthcare Systems. According to PrimeSource, the loan will be used both for growth and to refinance the company’s existing loan facility. Headquartered in Buffalo Grove, Illinois, PrimeSource is a provider of on-site mobile healthcare in long-term care nursing facilities.
ALEXANDRIA, Va., Aug. 27, 2013 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that it closed a $5.5 million revolving line of credit with PrimeSource Healthcare Systems, Inc. (“PrimeSource”). PrimeSource is a well established, privately owned provider of on-site mobile healthcare and billing services. Proceeds of the loan are being used to refinance the company’s existing loan facility and fund its growth plans.
“For over 30 years PrimeSource has been unwavering in its commitment to delivering quality, on-site healthcare services to residents of long-term care facilities,” said Christopher A. Herr, managing director for Oxford Finance. “PrimeSource is a company that has captured a majority share of the markets it serves, and Oxford is pleased to provide capital to fuel its continued success.”
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life science and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About PrimeSource Healthcare Systems, Inc.
PrimeSource Healthcare is one of America’s oldest and largest privately owned on-site providers of on-site mobile healthcare in long-term care nursing facilities. The company has approximately 300 employees and serves more than 1,200 patients per day in nursing facilities. As a growth organization, PrimeSource remains dedicated to its mission of “Making a positive difference in the lives of the patients we serve” by providing meaningful, pro-active healthcare to seniors in long-term care facilities. PrimeSource headquarters is in Buffalo Grove, Illinois. For more information, please visit www.pshcs.com.