Oxford Finance Leads $122 Million Financing for Tarrytown Expocare

Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, today announced the closing of a $122 million senior credit facility to Tarrytown Expocare (“Tarrytown or “the Company”), a closed-door long-term care pharmacy specializing in serving individuals with intellectual and developmental disabilities (“IDD”).

Proceeds from the transaction were used to finance an add-on acquisition. Oxford originally provided Tarrytown with an $87.5 million senior credit facility in December 2019, which was used to support the recapitalization of the business by Sheridan Capital Partners.

Tarrytown Expocare, founded in 2013 and headquartered in Austin, Texas, is one of the largest long-term care pharmacies in the United States focused exclusively on the IDD population. Tarrytown has longstanding relationships with over 2,000 group homes throughout the U.S.

“While operating in challenging times, Tarrytown has demonstrated its vital importance to customers in the IDD space,” said Tracy S. Maziek, head of healthcare services at Oxford Finance. “We focus on consistently delivering for growing clients that show adaptability in all operating environments.”

“Since closing of the initial investment, Oxford has been very supportive of the business by helping us close three significant acquisitions,” said Mark Newberry, founder and chief executive officer of Tarrytown. “The team was highly responsive and appreciative of Tarrytown’s differentiated position in our underserved niche.”

“Oxford’s support has been integral to our expansion plan,” added Sean Dempsey, partner at Sheridan. “They delivered on original commitments and increased them as our needs changed.”

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $5 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/

About Tarrytown Expocare

Tarrytown Expocare (“Tarrytown”) is a national long-term care pharmacy that serves individuals with intellectual and developmental disabilities (“IDD”). The Company provides prescription medication to IDD patients primarily residing in group homes and offers clinical administrative services to its facility partners. Tarrytown was founded by Mark Newberry in 2013 and is headquartered in Austin, TX. For more information, visit https://tarrytownexpocare.com/

About Sheridan Capital Partners

Sheridan Capital Partners is a Chicago-based healthcare private equity firm that focuses on lower middle market buyouts and growth equity in the U.S. and Canada. Sheridan partners with companies that have EBITDA from $3 million to $15 million, bringing strategic resources to accelerate growth, build enduring value, and achieve strong results.

For more information, visit https://www.sheridancp.com/

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