PAOLI, PA, January 21, 2021 – MedScope announced the closing of a new revolving credit facility with CIBC Bank USA. The Edmonds Group served as exclusive financial advisor to MedScope for the financing.
Greg Smith, President of MedScope said, “We are very pleased with the new facility and look forward to working with CIBC. The Edmonds Group was instrumental in preparing us for the process and helping us find the right lending partner.”
“Over the last twenty years, the Smith family has built one of the leading healthcare-channel focused PERS companies in North America,” said Henry Edmonds, President of the Edmonds Group. He added, “MedScope’s focus on custom platform innovation, responsiveness and efficiency has been the foundation of their success.” “CIBC is a well-established lender to the PERS industry. We are confident that they will be a great partner for MedScope.”
MedScope is one of the fastest growing companies in the PERS industry. The new facility will support MedScope’s continued growth.
About MedScope
Headquartered in Paoli PA, MedScope strives to be the long-term care PERS provider of choice for the nation’s leading managed care organizations and Medicaid waiver agencies and the people they serve. MedScope serves approximately one hundred thousand PERS device users in every region of the country. For more information see medscope.org.
About The Edmonds Group, LLC
The Edmonds Group is a specialized investment bank focused on recurring revenue businesses with a particular emphasis on the security alarm industry, the PERS industry and related verticals. The Edmonds Group has closed over 60 transactions representing $4 billion in transaction value since its inception in 2004. For more information on The Edmonds Group, visit www.theedmondsgroup.com.
About CIBC
CIBC (NYSE: CM) (TSX: CM) is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.