White Oak Healthcare Finance acted as sole lead arranger and administrative agent on the upsizing of the senior credit facility to University Health System, a division of Biomedical Research Foundation of Northwest Louisiana. BRF manages the University Health System hospitals, formerly known as LSU Health Shreveport and LSU Health E.A. Conway (Monroe).
Proceeds were used to support financing associated with the transfer of hospital operations from BRF to Ochsner Health System, which occurred October 1, 2018. White Oak previously announced the $30 million facility for BRF in April of this year.
“BRF is a safety net hospital and there is a critical need for their services,” said White Oak’s Managing Director Ross Eldridge. “We invest in all subsectors of healthcare and continually strive to focus where the market is missing astute healthcare focused financing partners.”
University Health System provides advanced healthcare for patients in Shreveport, Monroe and surrounding areas. Operating the region’s only Level 1 Trauma Center, UHS combines quality care with research-based methods to provide leading service and 3,000 jobs in the community. UHS is one of just six hospitals in the nation affiliated with St. Jude Children’s Research Hospital and home to state-designated Centers of Excellence, including the Feist-Weiller Cancer Center.
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