MADISON HEIGHTS, Mich., April 8 /PRNewswire-FirstCall/ -- InfuSystem , the leading provider of ambulatory infusion pumps and associated clinical services, today announced that it has made a $5.3 million payment on its Term Loan in addition to its normal quarterly $818,000 payment. As a result of the combined payments year-to-date, InfuSystem has reduced the total amount outstanding on its Term Loan by $6.1 million, to $24.1 million. The Term Loan was a result of the sale of InfuSystem, Inc. from its former parent company, completed in October 2007.
Mr. Steve Watkins, Chief Executive Officer, commented, “InfuSystem continues to generate strong free cash flow, which has enabled us to rapidly pay down our Term Loan. The Term Loan originally stood at $32.7 million as of October 2007, and in less than 18 months, we have reduced the principal amount due by over $8.5 million. We plan to continue aggressively paying down this loan, while maintaining a solid cash position on our balance sheet.”
About InfuSystem Holdings, Inc.
InfuSystem is the leading provider of ambulatory infusion pumps and associated clinical services for oncology practices and their patients in the U.S. These pumps allow for the gradual delivery of a drug over a period of days in the privacy of one’s home, compared to bolus infusion chemotherapy treatments that are given in a single high dose over a short period of time. Improved efficacy of the drugs, patient comfort, reimbursement to doctors for appropriate services and continuity of care all play a role in the growing trend toward this form of treatment. InfuSystem’s pumps are primarily used for colorectal cancer, but they have been approved for other forms of cancer, thereby greatly enhancing the market opportunity for InfuSystem.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include general economic conditions, as well as other risks detailed from time to time in InfuSystem’s publicly filed documents.
CONTACT: David K. Waldman or Klea K. Theoharis, both of Crescendo
Communications, LLC, +1-212-671-1020
Web site: http://www.infusystem.com/
