Oxford Finance LLC Closes $4 Million Senior Secured Credit Facility with Platinum Health Care LLC

ALEXANDRIA, Va., June 9, 2011 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life science and healthcare services companies, today announced that it provided $4 million in senior debt to Platinum Health Care LLC. The financing package included a $3.5 million senior secured term loan and a $500 thousand revolving line of credit. The proceeds from the loan are being used to refinance existing debt, make capital improvements, and provide working capital for a skilled nursing facility in Illinois.

"We are extremely pleased to expand our existing lending relationship with Platinum Healthcare," said Christopher A. Herr, managing director for Oxford Finance LLC. "Its management team has a great deal of experience in the healthcare industry and it is widely known that Platinum Health Care's skilled nursing facilities are extremely well-managed."

"We are excited about our new relationship with Oxford and look forward to their support as our financial partner as we continue to expand and improve our businesses," said Paresh Vipani, chief financial officer for Platinum Health Care. "When we looked to refinance our business, Oxford exhibited uncommon creativity, flexibility and commitment to our needs throughout the transaction. We chose to work with Oxford because of its responsive, knowledgeable and deeply experienced team and the firm's outstanding reputation."

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life science 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 $1.5 billion in loans, with lines of credit ranging from $500 thousand to $40 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.

About Platinum Health Care LLC

Platinum Health Care (PHC) was formed in 2001 to provide a full range of back office functionality on a contractual basis to senior housing communities. Since 2001 PHC has been contracted by facilities with revenues in excess of $80,000,000 per year. For additional information visit www.platinumhc.net.

SOURCE Oxford Finance LLC

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