Protech Home Medical Secures US$20 Million Senior Credit Facility With CIT Group’s Healthcare Finance Business

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CINCINNATI, Sep 21, 2020 (GLOBE NEWSWIRE via COMTEX) —
CINCINNATI, Sept. 21, 2020 (GLOBE NEWSWIRE) — Protech Home Medical Corp. (“Protech” or the “Company“) (TSXV: PTQ), (OTCQX: PTQQF), a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care, is very pleased to announce that it has entered into a US$20 million senior credit facility with CIT (NYSE:CIT).

Protech has entered into an Asset-Based Revolving Credit Facility with CIT’S Healthcare Finance business, part of its Commercial Finance division, pursuant to which the lender has agreed to advance up to $20 million at a tiered rate, this agreement has a four year maturity and may be extended pursuant to both parties agreement.

Commentary

“This senior credit facility with CIT is truly a momentous moment for Protech and I could not

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