CIT provides financing to Protech Home Medical
By HME News Staff
Updated Wed September 23, 2020
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,” said Greg Crawford, chairman and CEO. In connection with the financing, CIT is also providing a package of treasury management and capital markets services. Earlier this summer, Protech Home raised about $28.8 million in a public offering.
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