Drive DeVilbiss Healthcare is getting a wave of $35 million in new capital and a reduction in cash debt service obligations from its lenders.
The New York-based medical product manufacturer and distributor said the move has broad support across its capital structure, including a substantial majority of Drive’s first and second lien lenders and new capital from the company’s primary equity holders.
“The new capital and associated capital structure enhancements will enable Drive to continue to invest in improving our infrastructure to deliver high quality service to our customers, while also providing additional runway to execute on our business plan supporting continued growth,” said CEO Bob Gilligan.
Drive offerings include mobility products, respiratory and sleep products, beds, wheelchairs, sleep surfaces and pressure prevention products, self‐assist products, power-operated wheelchairs, rehabilitation products, resident room equipment, personal care products and electrotherapy devices.
