GE Capital Closes $3 Million Term Loan Facility for MedShape, Inc.
BETHESDA, Md.--(BUSINESS WIRE)--Feb 28, 2012-- GE Capital, Healthcare Financial Services announced today that it was sole lender and administrative agent on a $3 million multi-draw senior secured term loan facility to MedShape, Inc. The financing will be used for general working capital purposes.
Headquartered in Atlanta, GA, MedShape is a privately held medical device company focused on developing orthopedic devices from proprietary shape memory technology. The company is working to build and commercialize a portfolio of surgical solutions that use its patented technologies to address the increasing demand for improved sports medicine, joint fusion, and musculoskeletal trauma products.
"As a growing company, we were looking for a lender with deep industry knowledge that could help us meet our business objectives. The team at GE Capital, Healthcare Financial Services has extensive expertise and worked with us to create a tailored financing solution that will help us execute our growth strategy," said Kurt Jacobus, chief executive officer of MedShape.
"We are pleased to support innovative companies like MedShape and welcome them as a new customer. This financing will allow the company flexibility to expand and remain a top medical device provider," said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences.
About GE Capital, Healthcare Financial Services With in-depth industry knowledge and expertise, GE Capital, Healthcare Financial Services has provided more than $60 billion in financing over ten years to companies in over 40 healthcare sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices. Our team of professionals creates business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. For more information, visit the company's website at www.ge.com.
CONTACT: GE Capital, Americas Ned Reynolds, 203-229-5717 firstname.lastname@example.org or GE Capital, Healthcare Financial Services Samia Magbie, 301-664-9859 email@example.com KEYWORD: UNITED STATES NORTH AMERICA MARYLAND INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE SOURCE: GE Capital Copyright Business Wire 2012 PUB: 02/28/2012 08:00 AM/DISC: 02/28/2012 08:00 AM http://www.businesswire.com/news/home/20120228005240/