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Viemed secures new funding of up to $90M

Viemed secures new funding of up to $90M

LAFAYETTE, La. – Viemed Healthcare has entered into new syndicated credit facilities consisting of a five-year senior secured revolving credit facility of up to $30 million and a five-year delayed draw term loan facility of up to $30 million, which may be borrowed in multiple drawdowns. The new credit facilities contain an accordion feature that allow the company to increase the size of the facilities by up to $30 million, subject to certain conditions, for a total borrowing capacity of up to $90 million. Concurrently, Viemed has retired its previous senior credit facility, which included a $10 million unfunded line of credit commitment and a building term note in the principal amount of $4.7 million, scheduled to expire and mature in 2023 and 2026, respectively. “The significantly increased commitments enhance the company's financial flexibility and liquidity, providing capacity to complement our impressive organic growth through strategic acquisitions,” said Todd Zehnder, Viemed’s COO. “By working closely with our lending group, we were able to tailor the structure of the credit facilities according to our specific strategies and objectives. The scalable features provide immediate access to capital when investment opportunities are identified, while also limiting interest expense exposure. We appreciate the resounding confidence and strong support of the lending group.” 

Read about Viemed’s plans to grow through acquisition.


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