I found this in the PCNI home page news. Is this is old news?
Physician Computer Network, Inc. Signs $110 Million Credit Agreement; Financing Available for Acquisition Strategy
Morris Plains, NJ (September 12, 1997) - Physician Computer
Network, Inc., (NASDAQ: PCNI) announced today that the
company has established a revolving credit facility of
$110,000,000 with a group of banks and financial institutions. The
term of the agreement is four years.
The facility is available to provide financing for acquisitions,
working capital and general corporate purposes. Lehman
Commercial Paper, Inc. is the arranger and syndication agent, and
Fleet Bank, NA is the administrative agent for the facility.
Jack Mortell, Executive Vice President and Chief Operating
Officer of PCN stated, "We are pleased that based on our
financial profile, which is virtually debt-free, we were able to have
this $110 million facility made available to us. We plan to continue
our successful acquisition strategy, which has resulted in ten (10)
acquisitions over the last four years."
Physician Computer Network is a leader in developing, marketing
and supporting practice management software products for
physicians. The software is designed to link its current installed
base of approximately 98,000 office- based physicians with
hospitals, clinical laboratories, managed care providers, Blue
Cross/Blue Shield and Medicare and Medicaid intermediaries. |
