July 28, 2017
DiSorb CEO Ted McLaughlin a former member of the U.S. Navy, and graduate of Villanova University, spent his early career working for companies in healthcare. In 1998 Ted started his first business, Select Medical Systems which sold refurbished medical equipment. In 2000 he founded DiSorb Systems and has never looked back. He very much enjoys being an entrepreneur.
Ted has been working with PIDC since 2001 when we helped finance the purchase of his first factory in Northeast Philadelphia. Since then PIDC has played an active role in supporting DiSorb’s continued growth. DiSorb has a fairly large customer that has always been a slow payer. Ted contacted PIDC to find out if we could offset what had become 50 day terms with this customer. “PIDC’s Contract Line of Credit was the perfect vehicle to solve the problem. In effect, this contract line of credit has reduced our pay cycle from 50 days to 2 days for a nominal interest fee,” said Ted.
Ted expects DisSorb’s manufacturing business to grow in the range of 300% this year. He also anticipates much larger growth in its distribution business. He credits this business growth to the hard work of his talented and loyal employees. PIDC is excited to be a part of DiSorb’s story and looks forward to seeing its continued success.