Hygea Holdings Corp. Secures Additional $5 Million Line of Credit
Hygea Holdings Corp announced its new line of credit with Fifth Third Bank.
- Miami, FL (1888PressRelease) April 25, 2015 - Hygea Holdings Corp., a healthcare holding company that owns and operates integrated medical group practices and independent provider networks, announced today that it has tripled its existing revolving line of credit with Fifth Third Bank, from $5 to $15 million.
"This new credit arrangement provides Hygea with the liquidity and financial flexibility we need to continue its expansion efforts," said Manuel Iglesias, Chief Executive Officer for Hygea Holdings Corp.
"Fifth Third Bank has been a trusted partner and we appreciate their confidence in our ability to rapidly expand our acquisitions of new medical practices and physician networks," Iglesias added.
About Hygea Holdings Corp.
Hygea is a diversified healthcare holding company led by a team of nationally recognized industry leaders with backgrounds in insurance, finance, medicine, law and technology. The company owns physician practices, ancillary medical services, such as pharmacy, physical therapy, and diagnostics, as well as a 2,000-doctor independent physician association (IPA). Hygea prides itself as 'the physician's choice' in group healthcare, as evidenced by the number of acquired physicians who then choose to invest in the firm. Hygea's business model applies best practices at every stage of healthcare delivery to reduce inefficiencies and improve outcomes, providing seamless care to commercial, Medicare, and Medicaid patients. For more information, visit www.hygeaholdings.com.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $139 billion in assets and operates 15 affiliates with 1,302 full-service Banking Centers, including 101 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,638 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third's common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Fifth Third Bank was established in 1858. Member FDIC.
Forward-looking statements
Certain statements and information in this press release may be deemed to contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies, and all statements, other than statements of historical facts, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as "believe", "hope", "may", "anticipate", "should", "intend", "plan", "will", "expect", "estimate", "project", "positioned", "strategy" and similar expressions, and are based on assumptions and assessments made by Hygea's management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Any forward-looking statements in this press release are made as of the date hereof and are current only as of the date on which such statements were made. Hygea undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements will be described in Hygea's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q, including the sections entitled "Risk Factors", as well as any current reports on Form 8-K, as filed with the Securities and Exchange Commission.
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