ALEXANDRIA, Va. & INDIANAPOLIS– Oxford Finance LLC (“Oxford”), a leading specialty finance firm focused on healthcare services and life sciences companies worldwide, today announced the closing of a senior credit facility and revolving line of credit to Paradigm Health (“Paradigm” or “the Company”), a leading provider of hospice and palliative care in the state of Indiana.
The proceeds are being used to partially fund the majority recapitalization of Paradigm by Havencrest Capital Management (“Havencrest”) and for new growth initiatives. Oxford Finance is the sole lead arranger and administrative agent in this transaction.
“Paradigm is one of the largest hospice providers in central Indiana with strong relationships in the region and a reputation for superior quality of care,” said Tracy S. Maziek, head of healthcare services at Oxford. “With the backing of Havencrest, the Company is positioned to rapidly expand its regional footprint while continuing to provide compassionate care to more individuals with terminal illnesses and their families. ”
“We are excited to have found ideal partners with extensive healthcare industry experience in Havencrest and Oxford,” commented Jeff Jarecki, CEO and founder of Paradigm. “With their support, we look forward to building Paradigm into the market leader in hospice and palliative care.”
“This is the second transaction we have completed with Oxford,” added Matt Shofner, partner at Havencrest. “Once again, they were able to deliver a compelling and flexible financing solution, and we are pleased to partner with them.”
