VistaCare ups credit line on expansion plans

Hospice service provider VistaCare, Scottsdale, Ariz., expanded its line of credit to $50 million from $30 million in an amended loan agreement with Healthcare Business Credit Corp. The new agreement includes $30 million in revolving credit and $20 million for acquisitions. In a Dec. 14 filing with the Securities and Exchange Commission, VistaCare indicated it planned on expansion and said that future hospice market consolidation would provide the company growth opportunities. The new loan agreement is set to expire Dec. 23, 2009; the previous agreement was set to expire in April 2005. VistaCare operates 48 hospice programs in 14 states. -- by Joseph Mantone