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Choice Health at Home, LLC (“Choice”), the Texas-based provider of home health, hospice, and rehabilitation services, announced today the closing of a new $190 million credit facility led by Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide. AB Private Credit Investors and Maranon Capital served as co-syndication agents.
The facility closed alongside the acquisitions of multiple agencies in Texas, Oklahoma, and Kansas that will strengthen Choice’s hospice care footprint. The new committed financing will support the Company in capitalizing on its acquisition strategy along with other growth and expansion opportunities.
David Jackson, Founder and CEO of Choice said, “I am very proud of this vote of confidence by Oxford Finance, AllianceBernstein, and Maranon Capital. The mission of Choice is to provide a full continuum of post-acute healthcare at home. This facility will allow our company to significantly expand the scope and reach of those services.”
“We are excited to partner with this group of experienced healthcare lenders as we continue to execute upon Choice’s growth plans, including the expansion of the Company’s hospice offering within each of Choice’s core markets, as well as entering new market geographies“ commented Brad Wiginton, Managing Director at Trive.
“David and his team have built a high-quality organization with a reputation for patient-centered, compassionate care,” said Tracy Maziek, head of healthcare services at Oxford. “With the backing of established sponsors in Trive and Coltala, Choice is poised to rapidly expand its regional footprint and build the market leading post-acute care provider in the US. We are excited to support them in executing that vision.”
Choice’s corporate headquarters are in Tyler, Texas, and the company currently operates in Texas, Louisiana, Oklahoma, and Kansas. Choice was founded in 2008 as a rehabilitation service provider, entered home health in late 2012, and launched its hospice segment in 2018.
About Choice Health at Home
Choice was founded in 2007 by David Jackson, a licensed physical therapist, with a vision to build a leading rehab, regional home health and hospice provider by focusing on quality patient services across the entire continuum of care.
About Coltala Holdings
Coltala Holdings is a DFW-based holding company focused on building businesses of significance, with a passion for operational excellence, continuous improvement, and authentic and principled business stewardship.
About Oxford Finance LLC
Oxford Finance is a specialty finance firm 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 $7 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas.
About AB Private Credit
AB Private Credit Investors is the corporate middle market direct lending platform of AllianceBernstein. We provide flexible financing solutions to corporate borrowers and manage capital for a diversified group of institutional and high net worth investors.
About Maranon Capital
Maranon Capital, L.P. is an investment firm focused on directly originated private credit. Maranon’s competitive edge is its multi-product strategies that span the balance sheet with value-added financing and equity co-investments. Since 2008, Maranon has committed over $9.2 billion of capital.