Rochester secures $7 million credit facility, acquires Coloplast, Mentor Medical assets

By Lisa Kerner

Charlotte, N.C., June 8 - Rochester Medical Corp. entered into a $7 million credit facility, according to a company news release.

The new credit facility includes a $5 million asset-based term loan and a revolving line of credit up to $2 million, replacing a $1 million revolving line of credit with U.S. Bank that ended March 31.

Interest on the term loan is currently U.S. Bank's cost of funds plus 160 basis points while the revolver is at Libor plus 160 basis points.

In addition, Rochester Medical, through its subsidiary Rochester Medical Ltd., acquired certain assets of Coloplast A/S and Mentor Medical Ltd. for $9.3 million in cash plus $5.3 million payable over five years.

Rochester acquires assets and trademarks related to sales of male external catheters in the United Kingdom as well as Mentor's sales offices and warehouse facility in Lancing, England.

Located in Stewartville, Minn., Rochester Medical develops and markets urological and urinary continence products.

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