MADISON HEIGHTS — InfuSystem Holdings Inc. (NYSE MKT: INFU), a provider of infusion pumps and related services for the health care industry in the United States, announced Monday that it has replaced and refinanced its $35 million bank facility with a new $36.5 million credit facility, in order to provide additional financial and operational flexibility.

On Nov. 30, InfuSystem, advised by Houlihan Lokey, an international investment banking firm based in Los Angeles, entered into a $36.5 million, four-year senior secured credit agreement with Wells Fargo Bank N.A. and funds managed by PennantPark Investment Advisers LLC. The new credit facility is comprised of an asset based loan revolver, a senior term loan, and a junior term loan, bearing interest at a floating rate, currently 9.25 percent, substantially below the cost of the prior credit facility,

“This new credit facility, developed in partnership with two preeminent financial lending institutions, optimizes our ability to execute our strategic business plan,” said InfuSystem’s Interim CEO Dilip Singh. “It also represents another significant milestone in the reshaping of InfuSystem, and reflects the solid foundation the Company has established since the current leadership assumed full control of the Company during the second quarter of 2012.”

On Nov. 14, the company reported that it had returned to profitability in the third quarter ended Sept. 30.

Jonathan Foster, InfuSytem’s CFO, noted that the new credit facility will further strengthen the balance sheet.

“We were able to obtain the new loan on competitive terms well ahead of the prior facility expiring on July 1, 2013, and expect to reduce our scheduled principal loan payments by approximately $2.1 million on an annual basis, further enhancing operational cash flow,” Foster said.

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