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Gibraltar Business Capital Provides New Credit Facility to Dynatronics

August 07, 2023, 07:28 AM
Filed Under: Medical

Dynatronics Corporation, a leading manufacturer of athletic training, physical therapy, and rehabilitation products, announced that on August 1, 2023 the Company and its subsidiaries entered into a new Loan and Security Agreement with Gibraltar Business Capital. Dynatronics anticipates it will use the proceeds from the new credit facility to fund its working capital needs and for other general corporate purposes.

Brian Baker, President and Chief Operating Officer, commented, "Over the past few years, Dynatronics has made substantial progress to optimize its cost structure and strengthen its balance sheet. With a solid foundation now in place, the closing of this credit facility provides operational and financial flexibility as we execute our operational plans in today's market conditions."

John Krier, Chief Executive Officer and Chief Financial Officer, commented, "I am pleased we have executed this new credit facility, improved our access to capital through this relationship with Gibraltar, and are poised to be opportunistic to future opportunities."

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