Andover Medical lands $5.6m in financing

Andover Medical Inc. said today it had closed a $5.6 million private financing on March 29.

The North Andover company is a single-source provider of orthopedic, podiatric, and urological durable medical equipment; it also provides incontinence treatment solutions.

"I believe Andover Medical is now adequately capitalized to pursue our near-term business objectives," chief executive Edwin Reilly said in a statement. "These proceeds will be used - in part - to acquire and integrate new companies into a nationwide subsidiary network, which will assist practitioners in providing quality care and services to their patients."
(By Chris Reidy, Globe staff)