Quipt has commitment letter for $80 million credit facility from CIT

Chicago, Aug. 15 – Quipt Home Medical Corp. has a binding commitment letter from CIT Bank, NA for an $80 million senior secured credit facility, according to a press release.

The facility will break down into a $5 million term loan, a $55 million delayed-draw term loan and a $20 million revolver.

The credit facilities will amend and restate the credit and guaranty agreement from Sept. 18, 2020 between Quipt and CIT (and other lenders).

Proceeds will be used to finance potential future acquisitions and for general working capital purposes.

Closing is anticipated to occur within 30 days.

Previously reported, the company announced in November 2021 it was working on an increase to its credit facility to $100 million from $20 million.

Quipt provides in-home monitoring and disease management services and is based in Wilder, Ky.

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