ALEXANDRIA, Va. and GRAND RAPIDS, Mich., Oct. 8, 2020 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to healthcare services and life sciences companies worldwide, today announced the closing of a $55 million senior credit facility and revolving line of credit to SpendMend (or “the Company”), a portfolio company of Sheridan Capital Partners.
The proceeds were used to refinance existing debt, fund the acquisition of Turnkey Pharmacy Solutions (“Turnkey”) and Elevate340B (“Elevate”), and provide ongoing working capital. Oxford Finance is the sole lead arranger and administrative agent in this transaction.
Established in 1993, SpendMend is the leading outsourced provider of cost cycle management services and tech-enabled solutions to the healthcare market. A majority of the nation’s top healthcare systems partner with SpendMend to improve patient care through innovative cost-savings solutions.
“SpendMend is a recognized leader in cost cycle management,” said Tracy S. Maziek, head