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ADAC Laboratories

This article was originally published in The Gray Sheet

Executive Summary

Commits up to $8 mil. in debtor-in-possession financing to Community Health Computing Corp., a Houston-based health care information systems firm. CHCC filed for Chapter 11 bankruptcy on Dec. 7 and ADAC says the financing "lays the groundwork for further discussion" that could potentially lead to the acquisition of CHCC. The financing will bear annual interest of 12% and is due on April 15, 1995. The money is slated for working capital and repayment to ADAC of previous loans of approximately $3.1 mil. On Nov. 30, ADAC announced that it had agreed to loan CHCC up to $3.5 mil. ("The Gray Sheet" Dec. 5, p. 5)
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