Abbey Gets $100-Million Credit Line
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Abbey Healthcare Group Inc. on Wednesday announced the completion of a five-year, $100-million bank line of credit with GE Capital Corp. Of that amount, $62.5 million will be available for acquisitions.
“This transaction represents the final step in our capital restructuring program . . . (it) will allow the company the flexibility to take advantage of the many diverse opportunities in home health care, our core market,” said Richard J. Rapp, Abbey’s chief financial officer.
The Costa Mesa-based company has raised more than $430 million in equity and debt capital since 1991.
Abbey Healthcare provides respiratory therapy, infusion services, and home medical, clinical and rehabilitation equipment through more than 200 branches in 46 states.
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