Medical Depot to launch $40 million incremental term loan on Tuesday

By Sara Rosenberg

New York, Aug. 4 – Medical Depot Inc. is scheduled to hold a lender call on Tuesday to launch a $40 million incremental term loan due September 2019, according to a market source.

Capital One is the lead on the deal.

Pricing on the incremental term loan is Libor plus 425 basis points with a 1% Libor floor, which matches pricing on the existing $220 million term loan.

Proceeds will be used to fund a tack-on acquisition and for general corporate needs, the source added.

Medical Depot (doing business as Drive DeVilbiss Healthcare) is a Port Washington, N.Y.-based maker of medical equipment, including mobility, respiratory, bath and personal care, sleep, accessibility and rehabilitation products.

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