ALEXANDRIA, Va. & SAN FRANCISCO, Calif.– 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 senior credit facility and revolving line of credit to Renalogic (or “the Company”), an industry leader in dialysis risk management and cost containment solutions.
Proceeds from the transaction were used to support growth initiatives and to partially fund the recapitalization of Renalogic by Carrick Capital Partners (“Carrick”), a growth-oriented investment firm focused on software and software-enabled businesses.
Renalogic provides solutions that identify gaps in the management of kidney disease, reducing claim costs and improving outcomes within the growing self-funded insurance plan market. The Company has grown rapidly in recent years as rising healthcare costs associated with chronic kidney disease (“CKD”) have become increasingly painful for employers. Renalogic takes a holistic approach to reducing the risk associated with CKD, offering proven intervention for plans’ highest risk population, member education, patient advocacy, and dialysis cost containment.
“Oxford is proud to support a company focused on novel solutions for kidney disease management, with an emphasis on preventing the need for dialysis,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “Renalogic is a market leader in its niche and backed by an experienced sponsor with a track record of successfully scaling healthcare IT businesses. The partnership provides a strong foundation for continued growth and success.”
“Renalogic has experienced significant growth over the last several years by helping health plans and their members reduce risk associated with CKD,” according to Lisa Moody, CEO at Renalogic. “Oxford has prior experience lending to the risk management and cost containment industry, and we are happy to have their support as a capital partner as we continue to scale our business.”
“The Oxford team was able to provide a flexible financing solution to support our investment in Renalogic,” added Chris Wenner, managing director at Carrick. “We are pleased to complete our first transaction with Oxford.”
