Nationshealth (NASDAQ:NHRXU)
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From Jun 2019 to Jun 2024
NationsHealth, Inc. (Nasdaq: NHRX; NHRXW; NHRXU) today announced it has
amended and restated its credit facility with CapitalSource to make an
additional $7.0 million available under a multi-draw term loan.
NationsHealth anticipates using the term loan primarily for acquisitions
of smaller regional providers of diabetic supplies that are seeking to
exit the business ahead of Medicare’s
competitive bidding program. The amended and restated agreement
maintains the existing $10.0 million revolving credit facility, which
currently has an outstanding balance of approximately $2.5 million.
“Our recent financial performance has allowed
us to seek more traditional sources of financing and this term loan is
an important milestone in support of our future growth,”
commented Timothy Fairbanks, NationsHealth’s
Chief Financial Officer. “One of the key
drivers of our 2007 growth will be acquisitions. We have completed three
transactions over the last two quarters, and the term loan will enable
us to accelerate our acquisition strategy.”
About NationsHealth, Inc.
NationsHealth seeks to improve the delivery of healthcare to Medicare
and managed care beneficiaries by providing medical products and
insurance related services. NationsHealth provides home delivery of
diabetes supplies, medications and other medical products to patients
across the nation. In addition to its medical products business,
NationsHealth also provides education, marketing, enrollment and patient
service to insurers offering Medicare Part D prescription drug plans and
other Medicare insurance coverage. NationsHealth has an agreement with
CIGNA to service its Medicare Part D prescription drug plans nationally.
For more information please visit http://www.nationshealth.com.
About CapitalSource
CapitalSource is a leading commercial lending, investment and asset
management business focused on the middle market. As of December 31,
2006, CapitalSource managed a $17 billion portfolio, including $8.6
billion in its commercial lending and investment business, $5.8 billion
in its residential mortgage investment business, and $2.4 billion
managed on behalf of third parties. Headquartered in Chevy Chase,
Maryland, the company has approximately 550 employees in offices across
the United States and in Europe. For more information, visit http://www.capitalsource.com.
This press release contains forward-looking statements about
NationsHealth, none of which should be construed in any manner as a
guarantee that such results will in fact occur. Forward-looking
statements are statements that are not historical facts, and in some
cases may be identified by the words “anticipate,”
“project,” “expect,”
“plan,” “intend,”
“may,” “should,”
“will,” and
similar words or phrases. Such forward-looking statements are based upon
the current beliefs and expectations of NationsHealth’s
management and are subject to risks and uncertainties, which could cause
actual results to differ from the forward-looking statements. The
following factors, among others, could cause actual results to differ
from those set forth in the forward-looking statements: our ability to
maintain our existing customer base; our dependence on Medicare
reimbursement; our customers’ desire to take
advantage of our Part D and specialty pharmacy services; uncertainty in
our costs incurred in administering the Part D program; changes in
Medicare, Medicaid, Tricare, Champus and any other state or
national-based reimbursement program, including competitive bidding for
durable medical equipment and supplies; changing interpretations of
generally accepted accounting principles; outcomes of government reviews
of NationsHealth’s business practices;
inquiries and investigations and related litigation; continued
compliance with government regulations; legislation or regulatory
requirements or changes adversely affecting the businesses in which
NationsHealth is engaged; fluctuations in customer demand; management of
rapid growth; our ability to compete effectively; timing and market
acceptance of new products sold by NationsHealth; our ability to
successfully implement future growth strategies, including making
acquisitions of providers of diabetic supplies and certain of their
operating assets; our ability to successfully migrate diabetes customers
to NationsHealth’s services; our ability to
successfully integrate acquisitions of assets and businesses; general
economic conditions; and geopolitical events, regulatory changes and
other risks and uncertainties described in NationsHealth’s
Annual Report on Form 10-K for the year ended December 31, 2006 and
NationsHealth’s other reports filed with the
Securities and Exchange Commission. The information set forth herein
should be read in light of such risks. NationsHealth cautions investors
not to place undue reliance on the forward-looking statements contained
herein. These statements speak only as of the date of this press release
and, except as required by applicable law, NationsHealth assumes no
obligation to update the information contained herein.