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Bridge Healthcare Finance Provides $5 Million Facility To Cathedral Rock Corporation Chicago, IL -- September 7, 2005 - Bridge Healthcare Finance today announced the completion of a $5 million revolver to Cathedral Rock Corporation. Cathedral Rock Corporation “CRC” is a Texas-based company specializing in long term care through skilled nursing and assisted living facilities. The funding to CRC was used to refinance the existing secured lender as well as provide additional working capital. CRC acquired and assumed operations on several underperforming skilled nursing and assisted living facilities. After improving operations on the majority of the portfolio, Cathedral Rock recently divested the remaining under-performing facilities. This funding will help facilitate future growth and expansion of its operations. "We had been told that Bridge Healthcare Finance had specialized expertise and understood the business issues and opportunities in long term care. They immediately recognized what we were trying to accomplish and were able to provide additional capital to continue to grow our business,” said Kent Harrington, Chief Executive Officer. “Our expertise in the skilled nursing arena gave us unique insights into CRC’s goals as a company. Bridge has substantial experience in partnering with companies in this industry and assisting them in their financial objectives,” says Randy Abrahams, President and CEO of Bridge Healthcare Finance. About Bridge Finance Group Bridge Finance Group offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the healthcare lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of the healthcare industry. Bridge is based in Chicago, Illinois with offices in Hartford, Connecticut and Irvine, California. For more information visit Bridge Finance Group at www.bridgefinancegroup.com. Contact: |
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