PRZOOM - /newswire/ -
Bethesda, MD, United States, 2010/04/06 - GE Capital, Healthcare Financial Services today announced it has provided a $35 million revolving line of credit to CCS Medical, Inc. (NYSE: GE) . NYSE: GE
The loan will be used to refinance existing debt, provide working capital and support growth initiatives following CCS Medical’s exit from Chapter 11 bankruptcy protection on March 31, 2010.
Founded in 1994, CCS Medical is a leading provider of medical supplies assisting patients that need diabetes test strips, insulin pumps, urological supplies, ostomy supplies, advanced wound care dressings and prescription drugs. CCS Medical specializes in providing 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," said Steve Saft, Chief Administrative Officer and Chief Financial Officer, CCS Medical, Inc. “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,” said Robert McCarrick, senior managing director for GE Capital, Healthcare Financial Services’ corporate finance group. “GE’s healthcare industry expertise and financing experience help our customers meet their overall business objectives.”
About GE Capital, Healthcare Financial Services
With over $17 billion invested, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.
GE Capital (ge.com) offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world’s toughest challenges.