Invacare, a manufacturer and distributor of medical equipment used in non-acute care settings, consummated an additional draw of $5.5 million of term loans under its credit agreement with certain funds managed by Highbridge Capital Management.
“As guided in the Q3/22 earnings release, Europe achieved sequential growth in revenues and profitability driven by improved supply chain circumstances, giving us confidence that our transformation program is reaping benefits,” Geoff Purtill, president and CEO of Invacare, said. “Today’s announcement provides us with greater flexibility as we execute against our stated strategy. We are pleased that Highbridge continues to support the company as it moves through its planned transformation.”
Invacare intends to use the proceeds of the additional draw for general corporate purposes. In addition, $14 million of additional liquidity remains available under the amended Highbridge credit agreement, subject to satisfaction of certain conditions set forth therein.
