Company << News & Events << Press Releases << 2005 << MED3OOOO SECURES $9 MILLION IN CREDIT LINE MED3OOOO SECURES $9 MILLION IN CREDIT LINE PITTSBURGH, PA - MED3OOO Group, Inc. (MED3OOO), a privately held national healthcare management and technology company, announced it has entered into a $9 million credit agreement with Merrill Lynch Capital.The financing with Merrill Lynch will provide additional capital support for MED3OOO to expand its presence as a leading provider of healthcare management and ASP technology services to the large group physician practices and IPA network market.
"This agreement demonstrates Merrill Lynch’s confidence in MED3OOO’s ability to execute our development strategy," said David Dillon, MED3OOO Chief Financial Officer. "This new flexible financing gives us additional working capital when needed to accelerate our business growth plans, including pursuing acquisition opportunities that will expand our product and service offerings."
"Merrill Lynch Healthcare Finance group focuses on helping middle-market healthcare companies with a broad range of financial solutions.MED3OOO has a solid financial record and client base, and we are proud to support the company’s continued success and growth with this new financing," said David Moore, Segment Head in the Merrill Lynch Capital Healthcare Group.
About MED3OOO
MED3OOO is a national healthcare management and information technology company focused on advancing the performance of medical practices and physician networks. MED3OOO empowers over 5,000 physician, hospital, and health system clients to improve clinical outcomes, operational results, and financial returns through advanced knowledge, operations, and technology resources.
About Merrill Lynch Capital
Merrill Lynch Capital is a leading commercial finance business providing a broad range of structured financing solutions to private and public companies nationwide. Based in Chicago and with regional offices nationwide, Merrill Lynch Capital is focused on four major market segments –corporate finance, equipment finance, healthcare finance and real estate finance. Merrill Lynch Capital is affiliated with Merrill Lynch Bank USA.
For more information, please contact Karla Sartori, MED3OOO Corporate Marketing Manager at 412-937-8887 or Karla_Sartori@MED3000.com.
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