Announced today 11/30/2009, instaCare Corp. has renewed its revolving $2.0 million credit facility with Centurion Credit Resources, LLC through December 31, 2010. This credit line instaCare has used has been a foundation for its medical distribution business which has grown by over 450% in the last two years.
"Our credit line provides substantial resources and liquidity for the Company to initiate our important, aggressive and revolutionary business strategies," commented Keith Berman, instaCare's CFO. "Although the business environment has improved in the last several months, and some credit is now flowing, we want to make it clear to our shareholders and the investing public that instaCare has never lacked for capital. Centurion Credit Resources, LLC has filled each and every loan request the company has made."
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InstaCare Corp. (instaCare) is a nationwide prescription drug, prescription diagnostics and home testing products distributor. The Company's subsidiaries, Pharma Tech Solutions, Inc., Pharmtech Direct Corp. and PDA Services, Inc. operate in several healthcare products distribution channels. The Company distributes brand name prescription drug and prescription diagnostics products, as well as several lines of ostomy, wound care and post-surgery medical products. The company directs its marketing efforts to ambulatory and semi-ambulatory older Americans afflicted with diabetes and complications caused by diabetes and old age. The Company also offers information technology solutions in several medical care market channels by providing physicians with information at the point of care. The Company's products use personal digital assistant (PDA's), which operate on any Microsoft Mobiles Pocket personal computer (PC) based handheld device, either in a wireless or wired mode.
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