NEWS FROM 03-04 SECURE ADDITIONAL NEW CREDIT LINE
HASCO Medical Secures Additional New Credit Line to Facilitate Acquisitions
Mar 04, 2015 08:31:00 (ET)
HASCO Medical Secures Additional New Credit Line to Facilitate Acquisitions
ADDISON, TX--(Marketwired -Mar 4, 2015) - HASCO Medical, Inc. (OTCQB: HASC), a company that conducts sales of wheelchair accessible vans, parts, service and rentals, announced today that they have secured an additional Line of Credit with Hancock Bank to fund the acquisition of companies/dealerships in the growing Mobility Vehicle industry.
HASCO Medical will use Hancock's credit facility to support its growth strategy of acquiring companies/dealerships across the United States. This credit facility will be used to grow both BraunAbility (www.BraunAbility.com) and Vantage Mobility (www.VantageMobility.com) protected territories by increasing HASCO's dealership count across the United States and into new markets not currently served by HASCO.
Hancock is providing a $1 Million Secured Revolving Line of Credit to HASCO Medical. Additional terms were not disclosed.
"Our partnership with Hancock Bank is vital to our ongoing growth strategies. This new facility allows us the flexibility to act on acquisitions that we may not otherwise have been nimble enough to act on in the past. Going forward, we can now put a full press on our growth strategy to strengthen our already strong position in the Mobility industry," states Shane Jorgenson, Chief Financial Officer.
About HASCO Medical, Inc.
HASCO Medical is a leading provider of wheelchair accessible vehicles, parts, and service that dramatically improve the quality of living of its customers. Founded in 2008, HASCO Medical is headquartered in Addison, TX. The company operates 20 locations in 11 states from Maine to Florida. The company's mobility brands include Ride-Away (www.Ride-Away.com), Mobility Freedom (www.MobilityFreedom.com) and Wheelchair Vans of America (www.wcvans.com). To learn more, go to www.HascoMed.com.
Company Contact:
HASCO Medical, Inc.
214-302-0930
Investor@HascoMed.com
(MORE TO FOLLOW) Dow Jones Newswires
March 04, 2015 08:31 ET (13:31 GMT)
