NEW YORK–(BUSINESS WIRE)–White Oak Healthcare Finance, LLC (“White Oak”) announced today that it is acting as sole lender and administrator of a senior credit facility to California Specialty Pharmacy (“CSP” or the “Company”) in order to complete the acquisition by Assured to Support Healthcare Partners (“AHP”). CSP is a specialty infusion pharmacy platform focused on managed care.
“Specialty medications require additional patient education, adherence and support beyond traditional dispensing, which is creating strong demand for specialty pharmacy services,” said Ross Eldridge, EVP and chief origination officer at White Oak. “We look forward to supporting the CSP team and working with AHP again as they invest in this growing and important sub-sector.”
Founded in 2008 and based in Whittier, California, the company has grown to serve over 10,000 patients and 2,600 referring providers in its core markets across a range of therapeutic areas. CSP provides significant value-added services to many independent physician associations, including pharmacy benefits management services including site optimization, data-driven usage analysis, and quarterly business reviews.
“White Oak’s flexible structure and single-minded approach have been key to us in this process and will allow us to continue to efficiently scale our business,” said George Kridner, Chief Executive Officer of CSP. “We are pleased to have a partner in White Oak who is geared towards the needs of our company.”
“It was great to be working again with the White Oak team given their breadth and depth of industry experience,” said Ameya Agge, Managing Director at AHP. “Your assistance with the state pharmacy licensing process has been extremely helpful to us and has given us confidence of execution.”
About the California specialty pharmacy
California Specialty Pharmacy (“CSP”) was founded in 2008 with a single pharmacy location and has since grown into one of the nation’s leading and most respected specialty pharmacies. Originally known primarily for its high-quality blend, CSP is now widely recognized for its specialty pharmacy services and high-touch customer service model. CSP’s mission is to optimize patient health through a relentless commitment to clinical excellence. We accomplish this mission through programs that educate and engage patients. By working with doctors, health insurance companies and manufacturers, we also help patients to master their individual medication needs and challenges. For more information about CSP, visit www.csprx.com.
About insured health partners
Assured Healthcare Partners (“AHP”) provides capital solutions to support growth, consolidation and repositioning opportunities in the healthcare services industry. AHP combines its flexible capital with company and industry-specific research, as well as an extensive industry network and an in-house team of specialized healthcare resources to unlock value for portfolio companies and investors. For more information about AHP, visit www.AHPartners.com.
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“WOHCF”), a subsidiary of White Oak Global Advisors, LLC, is a lender to all sub-sectors of the healthcare industry, including healthcare services, pharmaceutical and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNF. WOHCF has in-depth expertise with an exclusive focus on healthcare, enabling it to offer flexible and creative solutions with assurance of execution. WOHCF offers a differentiated range of products including cash flow loans, asset-based loans and ABL stretch facilities, unitranche facilities, last-out financing, real estate financing, equipment financing and opportunistic investments. As a lender with large pools of capital, WOHCF generally holds its entire loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in sourcing and providing financing solutions to facilitate the growth, funding and recapitalization of small and medium-sized businesses. Together with its financing partners, WOGA offers the market over twenty lending products, including term, asset-based and equipment lending for all sectors of the economy. Since its inception in 2007, WOGA and its subsidiaries have invested over $10 billion across its product lines, employing a disciplined investment process focused on delivering risk-adjusted investment returns to investors while building long-term partnerships with our borrowers. Visit www.whiteoaksf.com for more information.