Constellation Healthcare Technologies, Inc., the US based healthcare services company, announces that it has settled in full its outstanding principal, interest, additional fees and applicable warrants in relation to the Line of Credit facility and Term Loan with its secured lender. The balance of the secured debt facility as at December 31, 2015 was $14,922,349.
Constellation still has approximately $10M of surplus funds available from the most recent equity raise post the acquisition announced earlier this year. These funds are earmarked for future acquisitions and the Company is evaluating a number of acquisition opportunities and will update the market in due course.
Paul Parmar, Chief Executive Officer of Constellation Healthcare Technologies, commented, “Constellation is now debt free as a result of using surplus funds from day to day operations to repay the facility. None of the cash on hand from the most recent equity raise was used to repay debt. Going forward, Constellation will be able to deploy the maximum amount of surplus funds available for strategic and operational initiatives.”