White Oak Healthcare Finance Closes $20 Million Financing For Fox Rehabilitation
NEW YORK–White Oak Healthcare Finance, LLC (“White Oak”), today announced it acted as sole lender and administrative agent on the funding of a $20 million asset based senior credit facility for Fox Rehabilitation, Inc. (“Fox”). The funds were primarily used to refinance existing indebtedness and support continued growth.
Fox provides physical, occupational and speech therapy services to help geriatric patients regain a better quality of life. “We are excited to partner with a practice that is so highly focused on clinical outcomes. By investing in people and processes, Fox has demonstrated the unique ability to maintain continuity of care while expanding throughout the country,” said Ross Eldridge, managing director at White Oak.
Founded in 1998, Fox provides rehabilitation services in patients’ homes, assisted living communities, and adult day care centers. The practice’s founder and CEO, Dr. Timothy Fox, is a Board Certified Geriatric Clinical Specialist Emeritus, physical therapist and a thought leader in programs and protocols for geriatric care. Today, Fox employs over 1,000 salaried clinicians, serving 16 states in the United States.
“With the White Oak facility, we are confident in our ability to continue to invest in our people, believe in the strength of our people and give them the tools they need to succeed. Our three-year plan will focus on investment in technology and process to increase efficiency. The capital will allow us to bring our clinically excellent care and outcomes to more states throughout the US in order for us to help older adults achieve what they once thought impossible – optimal function,” said Dr. Tim Fox.
“White Oak Healthcare Finance demonstrated a clear understanding of our business. We value the team’s consistent communication, speed of execution and the great relationship we have,” added Dr. Fox.