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SHOM Obtains Approval of $180 Million Credit Line from TB Group Inc.
[Marketwired]
MarketwiredNovember 29, 2016
NEW YORK, NY and TOKYO, JAPAN--(Marketwired - Nov 29, 2016) - Southern Home Medical Inc. ( OTC PINK : SHOM ), a leading developer in the Healthcare Industry, has announced today that its subsidiary KC Holdings, Inc. has received approval from TB Group, Inc. for a $180 million dollar company credit line. The approved credit line is to be used for general corporate purposes, including capital expenditures related to developing its vital monitoring wearable systems (VMWS) and other health monitoring products.
TB Group, Inc. is providing this new company credit line to allow KC to make impactful advances in vital monitoring wearable systems (VMWS) and health monitoring services. This credit line will allow the company to procure new contracts, attend conferences and cover general operating expenses essential to opening the global markets for SHOM and KC health monitoring products and services.
George Chang, Chief Executive Officer of SHOM, commented, "The credit line will provide strong capital support for our current projects and company expenses. With an increased business capital, our company will be allowed more flexibility in pursuing economic growth. With our combined efforts and resources, I can only expect both companies to continue growing in a promising relationship that is mutually beneficial."
About Southern Home Medical, Inc.: Southern Home Medical, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. SHOM will continue to leverage the success of their businesses in order to expand sales opportunities in other locations throughout the country with health, medical and equipment needs.
