BRENTWOOD, Tenn., July 01, 2019 (GLOBE NEWSWIRE) -- Corizon Health (“Corizon” or the “Company”), the nation’s leading correctional healthcare company, announced today that it has entered into an amendment and restatement of its existing credit facility pursuant to which, among other things, it has received additional funding in the amount of $25.0 million of new term loans, and secured additional commitments for $7.3 million of additional term loans which can be drawn by the Company at any time prior to December 31, 2019, subject to customary conditions. The proceeds of the new loan and funding commitments will provide the Company with significant financial and operational flexibility. The Company has raised the new loan and funding commitments in order to fund costs associated with new contract acquisitions and to fund additional growth opportunities.
“We are excited about continued opportunities for growth and that we have the sponsorship of large institutional investors who will provide us with a platform for this growth,” Company Chief Executive Officer Steve Rector said. “This allows us to invest in our future, to accelerate the realization of our strategic plans, and ultimately benefit our patients and partners.”
About Corizon Health
Corizon Health is a pioneering provider of correctional healthcare services in the United States, providing quality healthcare services to states and municipalities across the country for more than forty years. Corizon offers comprehensive solutions for medical care, behavioral care, pharmaceutical and re-entry services. For more information, please visit www.corizonhealth.com.