ReMed secures credit facility from Oxford

Oxford Finance LLC has provided a credit facility to ReMed, a provider of rehab services to patients with post-acute acquired brain injuries.

Oxford Finance LLC has provided a credit facility to ReMed, a provider of rehab services to patients with post-acute acquired brain injuries. No financial terms were disclosed. ReMed is backed by Baird Capital and Deerfield Management.

PRESS RELEASE

ALEXANDRIA, Va. and PAOLI, Pa., Aug. 26, 2020 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a term loan and revolving line of credit to ReMed Holdings, LLC (“ReMed” or “the Company”), a leading provider of rehab services to patients with post-acute acquired brain injuries (“ABIs”).

The proceeds are being used for general working capital and to partially finance the acquisition of Learning Services Corporation (“LSC”). Oxford Finance is the sole lead arranger and administrative agent in this transaction with Baird Capital and Deerfield Management as the lead equity investors in ReMed.

Founded in 1984, ReMed operates under the single premise that individuals with brain injury have the potential to return to a life that is meaningful and productive. ReMed’s extensive system of comprehensive services allows access at multiple levels and varying stages of recovery.

“ReMed has established a leading brand with an exceptional reputation in the ABI rehab space,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “On behalf of the entire Oxford team, I’m pleased to be working with the ReMed, Baird, and Deerfield teams and glad we could help grow this business.”

“The Oxford team worked closely with us to understand the nuances of our business and craft a solution that solved not only our immediate financing needs for the acquisition of LSC, but also provided additional capacity for future growth,” said Jeff Payne, CFO of ReMed.

“From their initial involvement in the transaction, Oxford showed a high degree of ingenuity to create a structure that afforded maximum flexibility while also solving for the variations of the transaction,” added Brett Tucker, partner at Baird Capital. “The creativity of their financing solution provided ReMed with a competitive edge in the acquisition process.”

About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences 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 $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/

About ReMed
The combination of ReMed and LSC creates a leading ABI rehabilitation platform with a combined operating history of over 70 years. With over 50 facilities in ten states, ReMed is one of the largest dedicated ABI rehabilitation platform in the nation. For more information, visit https://www.remed.com/

About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 310 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.