Joerns Healthcare Completes Reorganization Plans

Company Well-Positioned to Extend Its Industry Leadership

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Aug 21, 2019, 17:42 ET

CHARLOTTE, N.C., Aug. 21, 2019 /PRNewswire/ -- Joerns Healthcare, a leading durable medical equipment manufacturer and supplier, announced today that the financial reorganization for the company and its domestic subsidiaries is complete following the effectiveness and consummation of Joerns' court-approved plan of reorganization.

The reorganization reduced the company's debt by more than $320 million, while providing $40 million in new capital to support Joerns' ongoing operations and continued investments.

"This successful reorganization represents an important milestone in the company's 130 year history of exceptional customer service and unparalleled patient care," said Joerns Senior Vice President and Chief Financial Officer John Regan. "We're extraordinarily well-positioned now to further extend our industry leadership in improving the lives of others, as exemplified by the company's introduction of four new products during the past six months that serve patients across the care continuum."

About Joerns Healthcare
Joerns Healthcare is a leading vertically-integrated manufacturer, distributor, and national service provider of healthcare beds, therapeutic support surfaces, safe patient handling products, and negative pressure wound therapy devices, with a number of industry-leading brands, including Ultracare® XT bed frame and Hoyer® lifts. Joerns helps healthcare providers, across the care continuum, solve complex medical equipment challenges, improve patient and caregiver safety and speed patient healing with its renowned Purple Shirt service. Headquartered in Charlotte, North Carolina with 1,700 employees throughout North America and Europe, Joerns Healthcare is committed to delivering solutions that improve the lives of patients and care providers.

For more information, visit www.Joerns.com.

SOURCE Joerns Healthcare