NEW YORK–(–)–White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as sole lead arranger on the funding of a senior credit facility to finance the acquisition of New Life Health Group (“New Life”) by CareMax Medical Group (“CareMax”). CareMax is an at-risk primary-care provider contracted by Medicare Advantage plans to provide care to patients in Florida.
“CareMax serves one of the largest and fastest growing Medicare and dual-eligible markets in the US,” said White Oak’s Managing Director Ross Eldridge. “Carlos and Albert De Solo are proven thought leaders in the Medicare Advantage space, and have methodically built an impressive platform. We are excited to partner with them on this transaction and be part of their growth story.”
CareMax operates a growing network of physicians and multi-specialty medical and wellness centers serving patients throughout Florida. The company offers a comprehensive range of medical services, including primary and preventative care, specialist services, diagnostic testing, chronic disease management, and dental and optometry services under global capitation contracts. Through its financing with White Oak, CareMax has added an 8th medical center to its network in Tamarac, Florida further extending its medical and wellness coverage to the Medicare Advantage eligible patients in Broward County.
“White Oak provided us with strategic growth capital,” said Carlos De Solo, founder and CEO. “Having a healthcare-focused financing partner like White Oak, who deeply understands our business and capital needs, will be instrumental as we execute our growth and expansion plan going forward.”
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC is a leading global alternative asset manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Since its inception in 2007, White Oak Global Advisors’ disciplined investment process focuses on delivering risk-adjusted investment returns and establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.