White Oak Healthcare Finance has announced that it has acted as the sole lender and administrative agent of a credit facility to Youth Opportunity Investments (YOI), a Carmel, Indiana-based provider of adolescent and psychiatric treatment services.
The facility will be used to recapitalize and extend growth capital to YOI, which was founded in 2009 and operates 21 facilities across Florida, Michigan, Tennessee and Texas.
“We are extremely excited about our financial partnership and strong relationship with White Oak,” YOI CEO Ronald Hunter said in a press release issued by White Oak.
YOI provides services such as trauma-based care and family engagement sessions to help patients address mental health needs, as well as treatment needs pertaining to substance use disorders (SUDs) and co-occurring disorders.
More than 1,000 youth receive daily services from upwards of 1,000 clinical and support staff of YOI.
“White Oak demonstrated a deep understanding of the challenges and opportunities within our sector and operated with transparency throughout the transaction process,” Hunter added.
White Oak Healthcare Finance is a subsidiary of New York-based White Oak Global Advisors (WOGA), which was formed in 2007 and has provided over $10 billion to small and medium-sized companies for growth, refinancing and recapitalization efforts.
White Oak Healthcare Finance was established in 2016 to provide capital to a number of subsectors within the health care industry. The WOGA subsidiary targets investments in companies that have revenues between $40 million to $2 billion, and who have generated between $5 million to $75 million in EBITDA.
Among White Oak’s investments include a $75 million credit facility provided last year to Advanced Recovery Systems, an Orlando, Florida-based provider of SUD treatment services across Florida, Colorado and Maryland.
“YOI is distinguished by their experienced management team, mission-oriented culture, and their proprietary clinical approach which empowers individuals,” Ross Eldridge, the executive vice president and chief originations officer of White Oak Healthcare Finance, said in the press release. “We are excited to support the YOI management team’s continued geographic and service expansion in trauma care, psychiatric care and other behavioral services.”
Financial details regarding the YOI credit facility were not disclosed.
Companies featured in this article:
Advanced Recovery Systems, White Oak Global Advisors, White Oak Healthcare Finance, Youth Opportunity Investments