Tag: Financing
AdaptHealth refinances, reduces debt
September 16, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has closed a $950 million senior secured credit facility, consisting of a fully funded $650 million Term Loan A and a $300 million revolving line of credit. Proceeds from the new $650 million Term Loan were used to fully repay, without penalty, the company’s existing Term Loan due to reach final maturity in January 2026. The new $300 million revolver replaces the company’s existing $450 million revolving credit facility, which had no balance drawn...
Providers sue Philips for cutting them off
July 16, 2024HME News Staff
PHILADELPHIA – Dynamic Healthcare Services and Hometown Oxygen Pittsburgh on July 15 filed a lawsuit against Philips Respironics, DeLage Landen Financial Services and Philips Medical Capital for cutting off access to financing and leasing programs that the providers say are necessary for them to compete.
According to the lawsuit, filed in the U.S. District Court for the Eastern District of Pennsylvania:
Prior to the Philips recall, DHS purchased thousands of respiratory...
MediWound raises $25M
July 16, 2024HME News Staff
YAVNE, Israel – MediWound has entered into a definitive purchase agreement with several new and existing investors, including Mölnlycke Health Care, a medtech company specializing in solutions for wound care and surgical procedures. MediWound plans to use the $25 million in gross proceeds from the private investment in public equity (PIPE) to advance EscharEx pre-commercial activities and support general corporate purposes. “We are proud to have the strong support of Mölnlycke,...
Swift Medical completes fundraising
January 29, 2024HME News Staff
TORONTO – Swift Medical, a digital health technology company serving wound care providers, has closed on an $8 million round of financing co-led by current investors, the Women in Technology Venture Fund at BDC Capital and funds managed by Virgo Investment Group. Swift Medical, which uses artificial intelligence to improve clinical and economic outcomes in chronic and acute wound care, has earmarked the financing to accelerate its pace of technology enhancements. “Swift has built a market...
ProSomnus raises $10M
September 25, 2023HME News Staff
PLEASANTON, Calif. – ProSomnus, which makes a CPAP alternative for the treatment of obstructive sleep apnea, has completed a $10 million convertible preferred equity offering led by existing investors Spring Mountain Capital and Cetus Capital. The company will use the new capital to optimize its core business operations and support its strategic growth initiatives as it strives to achieve cash flow breakeven. “The completion of this financing fortifies our balance sheet as we continue...
CareBridge attracts financing
June 14, 2022HME News Staff
NASHVILLE, Tenn. – CareBridge, a value-based care solution for patients receiving home and community-based services, has closed a $140 million financing round, valuing the company at more than $1 billion.
Over the past 12 months, the company, whose intervention has been shown to reduce emergency room visits, hospitalizations and total costs, has grown more than 17x, expanding from serving about 1,100 full-risk patients in June 2021 to about 19,000 today.
“CareBridge...
Rotech obtains financing to continue growth
December 29, 2020HME News Staff
ORLANDO, Fla. – Rotech Healthcare has obtained $425 million in new financing via an amended and reinstated credit agreement with a diverse group of lenders.
The provider used part of the proceeds to pay a $100 million dividend to its holding company and will use the remainder to support growth through strategic acquisitions.
“This new credit agreement provides Rotech with sufficient...
Great Elm receives financing, rebrands
December 22, 2020HME News Staff
WALTHAM, Mass. – Great Elm Capital has received a preferred equity investment of $37.7 million from an affiliate of JPMorgan Chase & Co. Proceeds will be used to refinance Great Elm’s DME business and to provide the business with growth capital, the company says. “This financing transaction enables the firm to accelerate the growth of our existing businesses and at the same time provides incremental capital to acquire additional businesses,” said Peter Reed, Great Elm’s...
CIT provides financing to Protech Home Medical
September 23, 2020HME News Staff
NEW YORK - CIT Group's Healthcare Finance Group has provided a $20 million senior secured credit facility for Cincinnati-based Protech Home Medical. Protech Home will use the credit facility for general corporate purposes, acquisitions and ongoing business development, according to a press release. “With this new credit facility in place, we have added another tool in our toolbox that will further enable us to take the company through its next stage of growth with our key objectives in mind,”...
Customer financing: Offer options as advantage
May 31, 2019Tim Donovan
A. In a crowded market like medical equipment, it can be hard to stand out. As customers are faced with more choices, identifying and understanding the target audience for your products is important. Recently we completed a generational health study which shed light into how each generation pays for care. We learned that customers in each generation can struggle to pay out-of-pocket healthcare and equipment costs. When insurance coverage for equipment decreases, customers may be more inclined to...