ResMed expects to get new credit facility for Brightree purchase

By Sara Rosenberg

New York, Feb. 22 – ResMed plans to get a new credit facility and a short-term loan agreement to fund its acquisition of Brightree for $800 million in cash, according to an 8-K filed with the Securities and Exchange Commission on Monday.

The new debt is expected to be obtained via the company’s existing bank syndicate.

Pro forma leverage will be 1 times net debt to last-12-months EBITDA.

Closing is expected by the end of the fourth quarter of fiscal year 2016, subject to customary conditions and regulatory approvals.

ResMed is a San Diego-based medical device company focused on the diagnosis, treatment and management of sleep-disordered breathing, COPD and other chronic conditions. Brightree is an Atlanta-based provider of cloud-based software to improve clinical and business performance in the post-acute care industry.

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