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GE Capital provides $65M credit facility to Navarro Discount Pharmacy

BY Antoinette Alexander

NORWALK, Conn. — GE Capital Corporate Retail Finance announced it is administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy. The financing will be used to refinance debt and for general corporate purposes.

“GE Capital understands retailing and has a great deal of experience financing drug stores,” Navarro Discount Pharmacy CEO Juan Ortiz said. “This allowed us to secure the right capital structure to help build our business.”

Founded in 1960, Miami, Florida-based Navarro Discount Pharmacy is the largest Hispanic-owned retail drug chain in the United States with 30 stores in south Florida. Catering to the Hispanic market, Navarro’s stores feature an array of consumer goods including fragrances, electronics, health and beauty care, food and household products.
 

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Fisher-Price to launch DVR for kids this summer

BY Allison Cerra

EAST AURORA, N.Y. — Fisher-Price is introducing a new device that allows preschoolers to watch television shows on the go.

Fisher-Price’s Kid-Tough portable DVR allows parents to upload kids’ favorite programs on a digital video recorder by attaching the device to their television’s DVR, cable box, satellite box or digital converter box. The Kid-Tough portable DVR has a 3.5-in. touch screen; easy-to-use, kid-friendly controls; a rechargeable battery for four to six hours of play time (the battery recharges when the unit is docked) and features built-in memory that can accommodate up to two hours worth of content.

The Kid-Tough portable DVR will be available in pink or blue this summer at major retailers nationwide.

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American Diabetes Association names 2012 board members

BY Allison Cerra

ALEXANDRIA, Va. — The American Diabetes Association has announced its officers and board of directors for 2012.

This year’s board includes:

  • Board chairman L. Hunter Limbaugh, who serves as southeastern counsel of the Wine Institute in Columbia, S.C.;

  • Healthcare and education president Geralyn Spollett, who is the associate director of the Yale Diabetes Center and adult nurse practitioner, endocrine at Yale University in New Haven, Conn.;

  • Medicine and science president Vivian Fonseca, professor of medicine and pharmacology and Tullis-Tulane alumni chair in diabetes and chief, section of endocrinology and metabolism at Tulane University Medical Center in New Orleans, La.;

  • Secretary/treasurer Pearson Cummin, managing member of Grey Fox Associates in Greenwich, Conn.; and

  • American Diabetes Association CEO Larry Hausner.

A complete list, which includes more than 30 additional people, can be found here.


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