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Fort Worth-based Creative Solutions in Healthcare has acquired two skilled nursing facilities in Texas totaling 228 beds, according to a press release.
Oxford Finance, a leading specialty finance firm based in Arlington, Virginia, facilitated the acquisition through a $47 million line of credit.
The credit facility includes an option for the company to draw additional funds later, as needed, to finance future acquisitions.
”Creative Solutions’ stellar reputation for compassionate care has led to robust growth throughout Texas,” said Tracy S. Maziek, head of healthcare services at Oxford. “We are thrilled to provide the company with an innovative credit facility that will bolster its future acquisition plans.”
Creative Solutions in Healthcare is a family-owned company, founded by Gary and Malisa Blake in 2000, with more than 170 long-term care communities throughout the state of Texas. The company’s fundamental goal is to provide the “highest quality of care” to aging adults.
“We are very enthusiastic to have this opportunity with Oxford Finance,” said Gary Blake, president and CEO of Creative Solutions. “This partnership is pivotal in making our investment strategy a reality.”
Gary Blake is a member of Fort Worth Inc.’s The 400, the most influential leaders in Fort Worth.
Oxford Finance LLC is a specialty finance firm providing senior secured loans to public and private life sciences, healthcare services, health tech, business services and SaaS companies worldwide. Since 2002, Oxford has originated more than $13 billion in loans. In addition to Alexandria, Oxford has offices serving the greater San Diego, San Francisco, Boston and New York metropolitan areas.