Gibraltar recently increased existing customer Prodigy Health’s asset-based loan facility to $30 million to further support the company’s growth. The national drug distributor will use the increased facility to fund working capital by expanding its inventory of biopharmaceuticals, enhancing its distribution network and pursuing technology upgrades.
“We are proud to expand our partnership with Gibraltar. The Gibraltar team has continued to invest the time necessary with us and our financial sponsor to understand our new strategic approach,” Ty Dishman, CEO of Prodigy Health, said. “They fully understand the unique nuances of our business and the complexity of shifting product strategies.”
