GE Capital Agents $8.5 Million Senior Secured Credit Facility for Medtech Company TYRX, Inc.
BETHESDA, Md.--(BUSINESS WIRE)--Jan 29, 2013--GE Capital, Healthcare Financial Services announced today that it is serving as administrative agent on an $8.5 million in senior secured credit facility for TYRX, Inc., consisting of a $7 million term loan and a $1.5 million revolving line of credit. The financing will be used to refinance existing debt, working capital and to support commercialization efforts.
TYRX, Inc. is a leader in the commercialization of implantable medical devices designed to help reduce surgical-site infections associated with cardiac implantable electronic devices (CIEDs) including pacemakers and implantable defibrillators.
“This financing provided by GE Capital plays an important role in our ability to create and commercialize solutions for surgical-site infections associated with implanted medical devices” said Robert White, President and CEO of TYRX. “The GE Capital team thoroughly understands our business and structured this loan to match our needs.” “Customers appreciate GE Capital’s healthcare domain expertise, which allows us to customize offerings to support their unique business objectives,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “We are pleased to be able to provide companies like TYRX with access to capital so that they can continue to reduce patient risks and improve quality of life.” 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 45 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 KEYWORD: UNITED STATES NORTH AMERICA MARYLAND INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES PROFESSIONAL SERVICES BANKING FINANCE GENERAL HEALTH SOURCE: GE Capital, Healthcare Financial Services Copyright Business Wire 2013 PUB: 01/29/2013 08:00 AM/DISC: 01/29/2013 08:00 AM http://www.businesswire.com/news/home/20130129005183/