Belluscura secures $4M
By HME News Staff
Updated 9:40 AM CST, Mon November 25, 2024
LONDON and PLANO, Texas – Belluscura has entered into a credit facility of up to $4 million with Houston-based Sallyport Commercial Finance to build out its manufacturing, distribution and sales. The funding, as well as Medicare clearance on Oct. 28, means the company can now formally launch its DISCOV-R portable oxygen concentrator. "Since releasing the DISCOV-R earlier this year in a limited direct-to-consumer launch, we have seen increasing month-on-month demand for the product,” said Bob Rauker, CEO. “This new facility secured from Sallyport provides the company a platform to initiate a limited launch of the DISCOV-R into the important B2B market." The facility is for three years and covers accounts receivable, purchase orders, inventory and cash flow financing. Until now, the DISCOV-R has been available only through direct-to-consumer sales channels. Sallyport is a wholly owned subsidiary of Northrim Bancorp, a $3 billion bank headquartered in Alaska.
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