IntegraMed increases revolving portion of credit
IntegraMed America Inc. increased the revolving part of its credit facility to $35 million from $10 million.
The Purchase, N.Y., company said Wednesday in a statement the move will "better align our working capital needs with our growth strategy." IntegraMed develops and manages fertility and vein care facilities.
Its credit facilities include a $25-million term loan, with about $16 million outstanding, and revolving loans of up to $35 million. The company has repaid $7.5 million outstanding under the revolving loans, bringing the balance to zero.
The credit facility is with Bank of America, Webster Bank and T.D. Bank.
IntegraMed shares fell 24 cents, or 2.9 percent, to close at $8.09.