BGL Advises Regional Institutional Pharmacy and Related Skilled Nursing Facility Operator in Refinancing
January 17 2012
Brown Gibbons Lang & Company (“BGL”) is pleased to announce the successful refinancing of PharMed Corporation (“PharMed”) and BHP Management (“BHP”) by Oxford Finance LLC (“Oxford”). The transaction involved mortgage financing for BHP’s skilled nursing facilities and working capital financing for both PharMed and BHP. BGL initiated the transaction and acted as exclusive financial advisor to PharMed and BHP.
PharMed is a leading institutional pharmacy and distributor of medical supplies and equipment to long term care facilities and physicians in Ohio. PharMed was founded in 1971 and is headquartered in Westlake, Ohio.
BHP is an owner and operator of three skilled nursing facilities located in the Cleveland, Ohio area. BHP’s nursing homes offer a broad range of services, are Medicare and Medicaid certified, and have earned a reputation for providing exceptional senior and non-senior health care for over 40 years in Northeast Ohio.
Oxford Finance is a specialty finance Company providing senior secured loans to public and private life sciences 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 $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina.