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Whitney Bank Closes $10MM Upsize for Viemed Healthcare

March 25, 2019, 08:59 AM
Filed Under: Industry News
Related: Whitney Bank

Viemed Healthcare, Inc., a home medical equipment supplier that provides post-acute respiratory care services in the United States, announced that it has entered into an amendment to its two year commercial business loan agreement increasing the line of credit to $10 million. The agreement is with Whitney Bank, a Mississippi state chartered bank, will carry an interest rate that is based on one month ICE LIBOR plus 3.00% per annum from date of advance until paid and any amounts advanced will be secured by substantially all of the Company’s assets.

“We are pleased to announce the increase in our line of credit to $10 million which gives us more liquidity as we continue our rapid growth around the country,” stated Casey Hoyt, Viemed CEO. “Being that we have remained undrawn on this loan since inception we do not anticipate needing to utilize it in the near term, however it is nice to have additional liquidity options as we continue to execute on our plan.”

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