Apr 27 2010
Natus Medical Incorporated (Nasdaq:BABY) today announced that it has entered into a $50 million revolving credit facility with Wells Fargo Bank, National Association. The credit facility, which matures on April 30, 2012, amends and restates the Company's existing $25 million credit facility that was scheduled to mature on April 30, 2010.
“As we currently have sufficient working capital and believe we will generate positive operating cash flows during the term of the facility, we expect that any borrowings under the credit facility will be used for strategic acquisitions”
Jim Hawkins, President and Chief Executive officer of the Company said, "Given that credit markets are still restrictive, we view the increase in our borrowing capacity to $50 million as evidence of the strength of our business. We are pleased to have such a good relationship with Wells Fargo Bank."
"As we currently have sufficient working capital and believe we will generate positive operating cash flows during the term of the facility, we expect that any borrowings under the credit facility will be used for strategic acquisitions," added Hawkins.
SOURCE Natus Medical Incorporated
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