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EHealth, units secure amendment to credit facility


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EHealth, units secure amendment to credit facility

Santa Clara, Calif.-based eHealth Inc. and subsidiaries eHealthInsurance Services, Inc. and Wealth Health and Life Advisors LLC on Dec. 20 secured a third amendment to their $40 million secured asset-backed revolving credit facility.

The amendment will increase aggregate available commitments of the facility to $75 million, add a new lender and extend the maturity date to Dec. 20, 2022. It also amends the payment conditions to require the company to have between $10 million and $18.75 million of liquidity and to maintain excess availability of between $6 million and $11.25 million.

The credit facility was secured Sep. 17, 2018, and involves PlanPrescriber Inc. as guarantor and Royal Bank of Canada as administrative agent and collateral agent.