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Pacific Mercantile Bank Provides $4MM in Financing to CHME

May 04, 2017, 08:00 AM
Filed Under: Medical

Pacific Mercantile Bank, the wholly owned subsidiary of Pacific Mercantile Bancorp, announced that it has extended a $4 million term loan to CHME, a medical supplies distributor.  In addition to the financing, CHME utilizes a full suite of Pacific Mercantile Bank’s depository products and cash management services.  CHME was referred to Pacific Mercantile Bank by Unique Investment Corporation, CHME’s private equity sponsor.

CHME (originally, California Home Medical Equipment) is a progressive home respiratory and medical equipment company dedicated to excellent patient care and outstanding customer service.  Located in the San Francisco Bay area, CHME has more than 30 years of experience in the home medical industry.  CHME specializes in providing respiratory equipment, custom power mobility and seating products, and durable medical equipment.

“The team at Pacific Mercantile Bank invested a significant amount of time in understanding our business and cash flow cycle,” said Bernie Zimmer, President of CHME.  “With the knowledge they gained, they were able to structure a loan that meets our financing needs and allows us to increase our working capital to support the growth opportunities we are seeing.  Pacific Mercantile Bank also presented us with a solution that helped us streamline our banking relationships, make us more efficient, and take costs out of the business.  With their support, we have a stronger foundation for generating profitable growth.”

“We appreciate Unique Investment Corporation introducing us to another high quality company in CHME,” said Tom Vertin, President and Chief Executive Officer of Pacific Mercantile Bank.  “CHME has built a unique position in the medical supply distribution market and we look forward to helping the company achieve even greater success in the coming years.”

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