February 9, 2011
PRIDE MOBILITY ESTABLISHES NEW FINANCING DIVISION: GALAXY MOBILITY FINANCIAL SERVICES, LLC
EXETER, PA - February 9, 2011 - Pride Mobility Products Corporation is pleased to announce the formation of a wholly owned subsidiary; Galaxy Mobility Financial Services, LLC. Galaxy has been founded to provide inventory and working capital financing solutions for qualified Pride providers.
The financial experts at Pride and Galaxy have teamed up to create a selection of innovative, exclusive financial programs designed expressly to help providers transition to the new rental environment. These programs allow providers to manage their cash flow by securing a source for capital and scheduling predictable monthly payments for inventory.
"Faced with a challenging economy and Medicare's elimination of the first month purchase option, we recognized the limited capital market for DME providers," said Scott Meuser, Pride Mobility's Chairman and CEO. "The creation of Galaxy Mobility Financial Services, LLC fills that void and empowers our providers to continue to operate dynamic and growing businesses."
Galaxy programs - including the Fleet, Inventory Finance and Customized Programs - offer a comprehensive and flexible financing solution to solve the cash flow challenge related to the elimination of the first months purchase option, allowing extend payments beyond Pride trade terms. The programs offer competitive interest rates, have a high number of credit approvals, free up Pride credit lines for additional purchasing power and assure continued access to the industry's most trusted products.
"When building Galaxy from the ground up, we recruited and consulted with some of the top financial consultants in the country to develop and implement the ultimate provider financing solution," said Ann Sadusky, Executive Vice President, HR & Administration. "Galaxy is fully staffed with a team of financing experts led by Michael O'Boyle, General Manager of Galaxy Sales."
Michael joins Pride after 12 years with Altec Industries Inc. where he built his experience in accounting, lease sales, inventory, purchasing and account management. He holds a bachelor's degree in accounting and master's degree in finance.
For more information and to apply, please call a Galaxy Representative today at 888-525-2021.
Pride Mobility Products® Corp. is the world's leading designer and manufacturer of mobility products including Jazzy® Power Chairs, Pride® Scooters, Pride® Lift Chairs, and Pride® Silver Star Lifts and Ramps. Quantum® Rehab, a division of Pride Mobility, manufactures innovative, complex rehab solutions. The company, headquartered in Exeter, Pa., also has operations in Australia, Canada, Italy, the Netherlands, New Zealand, and the United Kingdom. Pride Mobility is dedicated to providing expertly designed, engineered, and tested products incorporating technologically innovative, intelligent features enabling end-users to achieve their mobility goals.