Omnicell draws $40 million under senior secured revolver to buy Ateb

By Marisa Wong

Morgantown, W.Va., Dec. 8 – Omnicell, Inc. borrowed $40 million under its revolving credit facility on Dec. 2, according to an 8-K filing with the Securities and Exchange Commission.

As previously announced, the company plans to use proceeds from its senior secured credit facility and cash on hand to fund its roughly $41 million acquisition of Ateb, Inc. and Canadian affiliate Ateb Canada Ltd.

The company expects to close the transaction during the fourth quarter.

The company’s credit agreement dated Jan. 6, 2016 consists of a five-year $200 million revolver and a five-year $200 million term loan.

Omnicell is a Mountain View, Calif.-based company that provides automated services for medication and supply management in health care in the United States and internationally. Ateb is a Raleigh, N.C.-based provider of pharmacy-based patient care solutions and medication synchronization to independent and chain pharmacies.

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