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DME Express raises capital for expansion

DME Express raises capital for expansion

BATON ROUGE, La. - DME Express, a DME provider to hospice and nursing facilities in the Southeast, has secured an undisclosed amount of growth equity financing from WayPoint Capital Partners, it announced Dec. 19.

Concurrent with the financing, DME Express has also secured a significantly expanded credit facility from its existing lender, Bank of Oklahoma.

Funds will be used to support the company's rapid growth and its continued expansion.

“This capital raise will enable DME Express to continue to make significant new investments in equipment, technology and expansion into new geographic markets,” said Mark Borneleit, CEO of DME Express, in a press release.

DME Express has more than 100,000 square feet of warehouse space across six states, has more than $20 million invested in inventory, and has more than 120 delivery technicians and vehicles, according to the release.

WayPoint Capital Partners, based in Rye, N.Y., has several billion dollars in assets under management in middle market health care, logistics and business services sectors. A so-called “balance sheet investor,” it does not have predefined holding periods or exit horizons, allowing it to focus on long-term capital appreciation, the release says.

“We look forward to pursuing the numerous organic and inorganic growth opportunities available as a regional leader in a fragmented but consolidating industry,” said Philip Edmunds, vice president at WayPoint Capital Partners, in the release.

Gar Wood Securities served as the exclusive financial adviser to DME Express on the transaction.


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