Rockwell Medical gets one-year loan renewal up to $2.75 million

By Elaine Rigoli

Tampa, Fla., April 11 - Rockwell Medical Technologies, Inc. renewed its loan with LaSalle Bank Midwest NA, formerly known as Standard Federal Bank NA through April 1, 2007, according to an 8-K filing with the Securities and Exchange Commission.

The loan agreement, extended on March 29, provides for revolving borrowings by Rockwell up to $2.75 million.

Borrowings under the loan agreement are secured by accounts receivable, inventory and certain other assets, and are guaranteed by Rockwell's subsidiary, Rockwell Transportation, Inc.

Interest is at Prime plus 75 basis points.

Based in Wixom, Mich., Rockwell Medical delivers hemodialysis solutions, powders and ancillary products to dialysis providers in the health care industry.

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