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Quipt secures $80M in financing

Quipt secures $80M in financing

CINCINNATI – Quipt Home Medical has received a binding commitment letter from CIT Bank, N.A., a division of First-Citizens Bank & Trust Company, to provide 100% of senior secured credit facilities in the aggregate amount of up to $80 million, comprised of a term loan facility of up to $5 million, a delayed draw term loan facility of up to $55 million and a revolving credit facility in an aggregate principal amount of up to $20 million. “The commitment letter from CIT for up to $80 million of senior credit facilities is a major milestone which paves the way for us to accelerate our acquisition approach across all three tiers of our well-defined strategy. As always, we will continue to remain extremely disciplined with our capital allocation strategy maintaining a very healthy balance sheet with a conservative leverage structure,” said Greg Crawford, Chairman and CEO of Quipt. “Furthermore, we believe that the senior credit facilities further validate the strength of our business model which is yielding robust financial and operating results and will provide us the flexibility needed to be very agile as opportunities arise.” Closing is anticipated to occur within 30 days.

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