IFC Credit Acquires Spectrum Medical Leasing, Inc.

MORTON GROVE, Il., February 5, 2002 -
IFC Credit Corporation has signed an agreement to purchase substantially all of the assets and business of Spectrum Medical Leasing, Inc., a commercial finance company specializing in direct financing and leasing of medical equipment to hospitals and other healthcare providers throughout the United States since 1988.

“The acquisition of Spectrum Medical Leasing will expand our reach into the healthcare market and enhance our competitive position overall”, said Rudy Trebels, President and CEO of IFC Credit Corporation. Trebels added, “We expect to build on Spectrum’s experience in the healthcare marketplace and expand it with the benefit of our resources”.

Gus Nicolopoulos, President of Spectrum Medical Leasing, Inc. commented, “We are pleased to become a part of the IFC Credit family. IFC Credit possesses strong lease servicing capabilities along with competitive funding needed to grow.”

The transaction increases IFC’s investment in full-payout leases, and will allow it to leverage its position in the healthcare marketplace.

Mr. Nicolopoulos will remain on board as vice-president of the medical operation, which will operate as a separate division of IFC Credit Corporation.


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