Daily News: March 7, 2018

CIT Arranges $175MM Facility for QMES

CIT Healthcare Finance served as sole lead arranger for a $175 million senior secured credit facility for QMES, a distributor of durable medical equipment to patients in seven Mid-Atlantic and Northeastern states.

QMES is a portfolio company of Quadrant Management, a private investment firm based in New York City. It will use the new credit facility to refinance legacy debt, support its growth trajectory and make strategic acquisitions.

“We are again pleased to support QMES, one of the East Coast’s largest durable medical equipment home delivery companies, with financing as it extends its impressive track record of growth,” said William Douglass, managing director and group head of CIT’s Healthcare Finance business. “CIT’s deep understanding of the sector combined with our healthcare industry knowledge and our comfort in structuring transactions for entrepreneurial companies was a great fit for Quadrant and QMES. We look forward to the opportunity to continue supporting their future growth.”

Founded in 2012, QMES provides durable medical equipment and respiratory therapy services through its affiliates: Ocean Medical, Montgomery Medical, Landauer/MedStar and Roberts Home Medical.