Oxford Finance LLC has closed a $13 million senior secured term loan and $1.5 million revolving lined of credit to Ohio-based JAG Healthcare. The money will be used to acquire six skilled nursing facilities in Ohio, as well as working capital, the company said.
“We are proud to be one of the premier providers of long term care in Ohio,” said James Griffiths, chief executive officer of JAG Healthcare. “Our operational success is grounded in the depth and expertise of our associates, and our survey record with the Ohio Department of Health is unmatched by any other multi-unit operator in Ohio.”
JAG Healthcare recently purchased the three properties where it operates nursing homes in Marion from LTC Properties Inc., according to The Marion Star. It also owns its operations in Galion, Shelby, Orrville, Wooster, Union City, Burbank and Columbus, and runs 10 nursing homes in Ohio in total.
