July 08, 2021 08:00 AM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent of a senior credit facility to support Advanced Recovery Systems, LLC (“ARS” or the “Company”), a Goldman Sachs Asset Management portfolio company. ARS provides inpatient and outpatient treatment services for patients with addiction, substance abuse and behavioral health disorders.
“We are thrilled to partner with White Oak as we continue to expand Advanced Recovery Systems’ reach both geographically and across treatment modalities”
Founded in 2013 and headquartered in Fort Lauderdale, Florida, ARS is a behavioral health company that specializes in the treatment of alcohol and drug abuse, eating disorders, and associated mental health issues. The Company operates eleven facilities across Colorado, Florida, Maryland, Ohio, New Jersey, and Washington.
“We are thrilled to partner with White Oak as we continue to expand Advanced Recovery Systems’ reach both geographically and across treatment modalities,” said Mitch Eisenberg, Chief Executive Officer of ARS. “White Oak’s support will enable us to impact lives on a broader scale and provide greater access to treatment for those seeking help.”
“It was great to work with the team at White Oak given their broad and deep experience in behavioral healthcare,” added Paul Sorensen, Chief Financial Officer of ARS. “In addition to providing us with certainty of execution, their transaction process was both efficient and transparent.”
About Advanced Recovery Systems
Advanced Recovery Systems is an integrated behavioral health care management company dedicated to the treatment of addiction, substance abuse and mental health conditions. The Advanced Recovery Systems network of treatment centers includes The Recovery Village Umatilla (Umatilla, Florida), The Recovery Village at Palmer Lake (Palmer Lake, Colorado), The Recovery Village Ridgefield (Ridgefield, Washington), The Recovery Village Columbus (Groveport, Ohio), Orlando Recovery Center (Orlando, Florida), The Recovery Village at Baptist Health (Lake Worth and Miami, FL), Next Generation Village (Sebring, Florida) and The IAFF Center of Excellence for Behavioral Health Treatment and Recovery (Upper Marlboro, Maryland). Advanced Recovery Systems also manages three locations of Next Step Village (Maitland, Umatilla and Eustis, Florida), recovery residences providing supportive, transitional living opportunities. For more information, visit www.advancedrecoverysystems.com.
About White Oak Healthcare Finance
White Oak Healthcare Finance, LLC (“WOHCF”), an affiliate of White Oak Global Advisors, LLC is a lender to all subsectors within the healthcare industry including healthcare services, pharma and life sciences, medical devices, healthcare technology, healthcare real estate, hospitals and SNFs. WOHCF has deep domain expertise with a sole focus on healthcare which enables it to provide flexible and creative solutions with certainty of execution. WOHCF offers a differentiated product set including cash flow term loans, asset based loans and ABL Stretch facilities, unitranche facilities, last out financings, real estate financings, equipment financings and opportunistic investments. As a lender with large pools of capital to deploy, WOHCF generally holds its full loan positions to maturity.
About White Oak Global Advisors
White Oak Global Advisors, LLC (“WOGA”) is a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing and recapitalization of small and medium enterprises. Together with its financing affiliates, WOGA provides over twenty lending products to the market, including term, asset-based, and equipment loans, to all sectors of the economy. Since its inception in 2007, WOGA and its affiliates have deployed over $8 billion across its product lines, utilizing a disciplined investment process that focuses on delivering risk-adjusted investment returns to investors while establishing long term partnerships with our borrowers. More information can be found at www.whiteoaksf.com.
Contacts
Ben Kalmanowicz
Managing Director
bkalmanowicz@whiteoaksf.com
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