Ropes & Gray represented private equity firm Welsh, Carson, Anderson & Stowe in a joint commitment with Sumitomo Corporation of America (SCOA) to inject up to $460 million of growth equity in Oxford Finance LLC, a specialty finance firm that provides senior debt to life science and healthcare services companies.
SCOA, and its parent company, Sumitomo Corporation, has held Oxford as a majority-owned subsidiary since 2004. Welsh Carson, a $20 billion private equity firm with a primary focus on the healthcare industry, has invested alongside SCOA in Oxford. Going forward, Oxford will be jointly held by both entities.
The Ropes & Gray deal team was led by New York-based partners Othon Prounis, Leo Arnaboldi.
Ropes & Gray has advised Welsh Carson on other significant transactions in the past year, including representing:
- Welsh Carson in an agreement to purchase a majority interest in Smile Brands Group Inc. from Freeman Spogli & Co.,
- Welsh Carson and Renal Advantage in the sale of Renal Advantage to Liberty Dialysis,
- Welsh Carson-owned US Oncology in its proposed $2.16 billion (including debt) acquisition by McKesson Corp.,
- Welsh Carson, a 44 percent owner of AGA Medical Holdings Inc., in the planned $1.3 billion sale of AGA to St. Jude Medical Inc.,
- Welsh Carson in the sale of Multiplan to BC Partners and Silver Lake Partners,
- GDC Holdings Inc. and Welsh Carson in the acquisition of National Dentex Corporation.
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find our more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.