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Pediatric Services of America (PSAI), a large pediatric home health and private duty provider, reported that it has closed on a $60 million bank credit facility.
The financing will be used for acquisitions and working capital. According to PSAI chairman, president, and CEO Joseph D. Sansone, the financing will ensure the availability of capital to support the company’s aggressive expansion plans, which include geographic expansion and growth in infusion services. "We’re still targeting the Midwest and the Northeast to create dominance, as we have in the Southeast," says Sansone. He cites strong 1996 fiscal year growth in Philadelphia and New Jersey.
Based in Norcross, GA, PSAI operates 97 locations in 27 states providing comprehensive home nursing, home health equipment, and pharmacy services primarily for children and infants.