A Medical Device Daily
Direct Capital, (Portsmouth, New Hampshire) a nationwide provider of equipment leasing and financing, reported that it will allocate nearly $68 million in lending capacity to immediately provide more substantial financing programs to vendors that sell medical, dental, and veterinary equipment. In addition, the company has hired three new vendor sales executives with significant medical equipment financing and leasing experience.
Direct Capital, which provides a wide range of financial services, secured $100 million from Key National Finance and other conduits and banks in April. That came on the heels of the renewal of an additional $100 million line from DZ Bank. They have been one of the few, if not the only, specialty finance companies over the last 9 months to secure new capital.
Direct Capital was recently named among the Equipment Leasing and Finance Top 100 companies, according to the Monitor, an industry trade publication.
In other financings: CareFusion (Dublin, Ohio), the company that will become public from the planned spinoff of Cardinal Health's (San Diego) clinical and medical products businesses, reported the pricing of its offering of $1.4 billion aggregate principal amount of senior unsecured notes. The notes consist of the following tranches:
• $250 million aggregate principal amount of 4.125% senior notes due 2012;
• $450 million aggregate principal amount of 5.125% senior notes due 2014;
• $700 million aggregate principal amount of 6.375% senior notes due 2019;
CareFusion plans to use the net proceeds from this offering to pay a special dividend to Cardinal Health in connection with the planned spinoff of CareFusion from Cardinal Health (Medical Device Daily, June 11, 2009).