Sussex Associates Provides Credit Line to TriStar Wellness
TriStar Wellness Solutions and its wholly owned subsidiary HemCon Medical Technologies concluded a credit facility agreement with Sussex Associates. The facility provides TriStar and HemCon with access to $1 million in working capital.
TriStar and HemCon intend to employ the funds to continue the expansion in marketing operations and product development across all divisions. The combined companies’ offices and operations now include locations in Westport, CT, Portland, OR, Dublin and the Czech Republic.
The strategy, to acquire and organically develop healthcare products in wound care, women’s health and skin care, requires the working capital financial resources supplied by this credit facility. Increasing working capital is a key objective at this time to implement the companies’ strategies.
“This financial credit facility provided from an outside investment firm is an important milestone towards achieving our corporate objective to continue building our company with increasing marketplace activities,” said John Linderman, CEO of TriStar Wellness Solutions. “Furthermore, during this past year TriStar has made major commercial strides with our acquisition of HemCon and its foreign subsidiaries. HemCon designs and manufactures hemostatic bandages and dressings used by the military, hospitals, dental, and emergency medical services professionals globally to control bleeding. In addition we have also launched our Beaute de Maman product line which consists of beauty and wellness products for pregnant and nursing women.”
TriStar Wellness Solutions is a health and wellness company that targets consumer opportunities in the OTC and professional marketplace.