BOSTON--(BUSINESS WIRE)--Aug. 16, 2006--Medical Specialties Distributors, LLC ("MSD") announced today that it has entered into a $53 million Credit Agreement with GE Healthcare Financial Services. The funds will be used to enhance MSD's growth in core equipment rental and service business to homecare providers, acute care hospitals and skilled nursing homes.
"We are very excited with the expansion opportunities of MSD into the hospital and skilled nursing home markets. We believe that MSD's commitment to service and quality will translate into large gains as we expand into hospitals and skilled nursing homes," said Mike Fernandez, Chairman of MSD and MBF Healthcare Partners, LP. "MSD is expanding its sales and service organization to react quickly to the service and delivery needs of the local hospital and skilled nursing home. We are very pleased that GE Healthcare Financial Services has provided us with the capital required to execute on our vision."
Mike Rizzo, MSD's President and CEO, added, "Everyone at MSD is enthusiastic about our expansion into the acute and long-term care markets and the addition of an experienced sales force in both areas. We are confident that the addition of these talented sales professionals to our organization and the availability of additional capital will assist our successful growth in the acute care and skilled nursing home markets while continuing to expand our national home healthcare business."
About Medical Specialties Distributors, LLC
Medical Specialties Distributors, LLC headquartered in Stoughton, Massachusetts is the largest supplier of healthcare products and bio-medical equipment rentals and service to the home healthcare market and rapidly expanding into the hospital and skilled nursing home markets. MSD offers its products and services through a national footprint of seven distribution facilities, seven bio-medical equipment service and repair centers, and thirty medical equipment rental depots. MSD is a wholly owned portfolio company of MBF Health Care Partners, LP. For more information, visit http://www.msdonline.com.
About GE Healthcare Financial Services
GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $15 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit http://www.gehealthcarefinance.com.
About MBF Healthcare Partners, LP
MBF Healthcare Partners, LP is a $215 million private equity fund focused on equity investments in emerging and growth companies in healthcare services with annual earnings between $5 and $25 million. MBF Healthcare Partners is minority owned and operated. For more information, visit http://www.mbfhp.com.
Medical Specialties Distributors, LLC, Stoughton, Mass.
Katie Murphy, 1-800-967-6400, ext. 6322
MBF Healthcare Partners, LP
Jorge L. Rico, 305-476-5160
Source: Medical Specialties Distributors, LLC
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