Evome Medical Technologies enjoys multi-year expansion with financing from Pathward

When Evome Medical Technologies Inc., formerly Salona Global Medical Device Corporation, set out to expand its business model three years ago, the company turned to Pathward®, N.A., which was known as Crestmark at the time.

The company first sought funding from Pathward in 2021 for a $6 million asset-based facility against accounts receivable, inventory and equipment for its operating subsidiary South Dakota Partners Inc.

Since then, Evome has continued to grow its business with the assistance of financing from Pathward’s Commercial Finance business, obtaining four commercial loans with revolving lines of credit ranging from $1.5 million to $6 million. In addition to funding Evome's subsidiary South Dakota Partners, Pathward also provided four of the company's other subsidiaries with financing:

• Simbex ($2 million facility)
• Mio-Guard ($1.5 million facility)
• DaMar Plastics ($2 million facility)
• Biodex Medical Systems ($3 million facility)

Evome announced a $3 million secured revolving loan from Pathward for its operating subsidiary, Biodex Medical Systems, Inc. in a September 2023 news release.

“The medical field is evolving, and we’ve been able to grow our business by meeting the demands of the field and putting useful products in the hands of those who need it most. We appreciate that Pathward not only provides working capital financing, but also that we can trust them to make the deal happen and to execute it accordingly. They make the process easy for us and take out the guesswork,” said Mike Seckler, CEO of Evome.”

“Evome has been a great partner, and it’s been rewarding to see them use the financing from Pathward to grow their business over the past few years,” said Senior Managing Director, Central Regional Manager at Pathward, Rich Flamang. “We’ve built such a great relationship. We understand their operational needs and goals and work together to help meet their continued business growth.”

Flamang is a member of Pathward’s working capital team. He and other members of the team focus on each client’s unique needs and develop funding solutions to meet those needs. Learn more about Pathward’s working capital solutions.

If you would like to speak with a member of the team about your business needs and how we can help, complete this online contact form and we will have a representative contact you.

Learn more about Pathward’s Commercial Finance solutions at Pathward.com.