Gibraltar Business Capital expands Prodigy Health’s ABL to US$35m

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 defined by thorough diligence, innovative structuring, and a commitment to client success.

Since first partnering with Prodigy Health in 2022, GBC has tailored financing solutions adapted to the company’s evolving needs. GBC provided an initial US$25m line of credit (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 US$30m.

Now, with Prodigy’s continued growth and changing market dynamics, GBC has approved another LOC increase to US$35m. 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.

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.

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 US$35m underscores GBC’s dedication to building enduring partnerships that deliver real business impact.

Source: Gibraltar Business Capital