TSL Express Daily News

Gibraltar Business Capital (GBC) has increased its asset-based line of credit for Prodigy Health, a rapidly growing specialty pharmaceutical distributor, marking the latest milestone in a partnership characterized by thorough diligence, innovative structuring, and a commitment to client success.

A Relationship Built on Understanding and Agility

Since first partnering with Prodigy Health in 2022, GBC has tailored financing solutions adapted to the company’s evolving needs. GBC provided an initial $25MM LOC that allowed Prodigy to expand its distribution capabilities. In 2024, as Prodigy’s business model shifted to focus on higher-turn products and new customer segments, GBC responded by expanding the facility to $30MM.

Now, with Prodigy’s continued growth and changing market dynamics, GBC has approved another LOC increase to $35MM. During the approval process, GBC provided out-of-formula borrowing base accommodations, ensuring Prodigy could maintain strong working capital and increase inventory levels to support ongoing operations.

Creative Solutions Through Diligence

GBC’s underwriting team is known for its rigorous diligence and hands-on approach. Rather than relying on a one-size-fits-all template, the team invested significant time in understanding the nuances of Prodigy’s operations and the complexities of working with pharmaceutical manufacturers to gain approval for new product lines.

This deep understanding has enabled GBC to structure flexible solutions that support both current needs and future opportunities, striking a balance between prudent risk management and the agility required for a change in business strategy in a fast-moving industry.

Supporting Growth Through Challenges

Like many growing businesses, Prodigy Health faced evolving working capital needs as the product mix shifted to support its national contracts strategy. Throughout these periods, GBC demonstrated patience and flexibility, working closely with Prodigy to help them navigate hurdles and pursue success with their contracted business model. GBC’s willingness to accommodate out-of-formula borrowings and move quickly on credit line increases has been pivotal in supporting Prodigy’s growth.

A Partnership Built on Results

For Prodigy Health, the benefits of its partnership with GBC are clear: increased working capital, enhanced operational flexibility, and the confidence to pursue new growth opportunities.

As Prodigy continues to expand, GBC remains committed to supporting their journey with innovative and flexible financing that evolves in tandem with their needs. This latest LOC increase to $35 million underscores GBC’s dedication to building enduring partnerships that deliver real business impact.