APO Health Signs $3 million Credit Facility
OCEANSIDE, N.Y., Nov 6, 2002 (BUSINESS WIRE) -- APO Health, Inc. (APO) (OTCBB:APOA), announced today that its has signed an agreement with asset based lenders Rosenthal and Rosenthal for a secured credit facility of $3 million. The facility replaces the previous credit line extended by HSBC, Inc. and exceeds it by $1 million. APO will be able to draw down on the credit line through a formula based upon its accounts receivable and inventories.
Jan Stahl, Chairman and CEO of APO Health, "The availability of the expanded credit facility gives us the ability to grow our business more rapidly. We can increase our inventory mix while simultaneously purchasing additional product. I expect the financial flexibility afforded by the credit line to allow us to further grow revenue and reduce costs."
About APO Health, Inc.
APO Health is a multi faceted distributor of medical dental and veterinary supplies. These supplies include protective garments, surgical devices, instruments, pharmaceuticals, needles, syringes and health and beauty aids.
CONTACT: Ananda Capital Partners, Inc., Boca Raton, Fla. Miron Leshem, 561/477-7751 Ananda1@adelphia.net
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.......According to the Great Pumpkin, ".....You're in .....iHub....., Charlie Brown....."!!!
.......According to the Great Pumpkin, ".....You're in .....iHub....., Charlie Brown....."!!!
