MIAMI, Jan. 13, 2014 /PRNewswire/ -- Sanomedics International Holdings, Inc. (OTCQB: SIMHD) ("Sanomedics"), a medical technology holding company that focuses on game-changing products, services and ideas, today announced that on January 9, 2014, it and all of its wholly owned subsidiaries closed a Senior Secured Revolving Credit Facility of up to $5 million with TCA Global Credit Master Fund, LP ("TCA") to provide operating capital and fund acquisitions.
On the date of closing, $1,000,000 of the Revolving Credit Facility was funded. The Company intends to use the remainder of the facility ($4 million) primarily to fund accretive acquisitions. Additional draws under the facility are available on an as-needed basis, based on a mutually approved formula of eligible receivables and assets, subject to continuing compliance with the terms of the revolving credit facility.
Keith Houlihan, President of Sanomedics International Holdings, Inc., said "The TCA funding and support is another significant step forward in our development and strategic growth plans. This facility and partnership with TCA will demonstrate our funding capabilities and strength in identifying targeted acquisitions and position to execute."
About Sanomedics International Holdings, Inc.
Sanomedics International Holdings, Inc. (OTCQB: SIMHD) is a medical technology holding company that focuses on game changing products, services and ideas – a place where physicians, entrepreneurs, and medical companies can work together to drive innovative technologies through concept, development, and ultimately commercialization. We plan to grow our existing business organically and through strategic acquisitions specifically relating to sleep disorder diagnosis treatments. Sanomedics seeks to acquire sleep therapy operating businesses and our strategy is to integrate a portfolio of world-class products and service p
|SOURCE Sanomedics International Holdings, Inc.|
Copyright©2012 PR Newswire.
All rights reserved