NEW YORK– White Oak Healthcare Finance, LLC (“White Oak”), today announced that it acted as sole lender and administrative agent on the funding of a $25 million asset-based senior credit facility for Aspen Skilled Healthcare, Inc. (“Aspen”). The funds will primarily be used to finance ongoing working capital. Aspen’s independent affiliates operate skilled nursing facilities (“SNF”) primarily located in the Los Angeles and San Francisco metro areas.
“Aspen’s network of independent operating affiliates has consistently performed well and grown even during periods of significant uncertainty,” said Ross Eldridge, EVP and Chief Originations Officer at White Oak. “We continue to seek out partnerships with best-in-class operators like Aspen.”
“White Oak provided a flexible solution for the capital needs of Aspen’s independent operating affiliates and offered certainty of execution,” said Marcus Paxman, Chief Financial Officer at Aspen. “Their experience within the SNF industry is very deep and we are excited to have a partner for growth beside us.”