CCS Medical, Inc., a premier provider of medical supplies has received a $35 million revolving line of credit facility from GE Capital, Healthcare Financial Services. Following CCS Medical’s exit from Chapter 11 bankruptcy protection on March 31, the loan will be used to refinance existing debt, provide working capital and support growth initiatives.
Patients needing diabetes test strips, insulin pumps, urological supplies, ostomy supplies, advanced wound care dressings and prescription drugs have been assisted by CCS Medical since 1994. It provides the patients with a convenient way to receive supplies for their chronic illnesses, saving them time and money.
"GE Capital, Healthcare Financial Services has been a supportive partner throughout the restructuring process, providing industry knowledge and expertise that was critical to the successful execution of our restructuring plan," Steve Saft, chief administrative officer and chief financial officer, CCS Medical, Inc, said. “This new facility from GE will help us to invest in the business and compete successfully in our industry.”
“We are pleased to play a part in supporting CCS Medical as it works to build its position in the medical supply market,” Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services’ corporate finance group, said. “GE’s healthcare industry expertise and financing experience help our customers meet their overall business objectives.”
In related news, GE Capital, Healthcare Financial Services has provided $31.5 million as part of a $145 million senior secured credit facility for Harden Healthcare, LLC.
Deepika Mala is a contributing editor for HealthTechZone. To read more of her articles, please visit her columnist page.Edited by
Alice Straight
