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Xtant Medical Expands AR Credit Facility With Silicon Valley Bank

August 17, 2016, 07:23 AM
Filed Under: Medical

Xtant Medical Holdings, Inc.announced the expansion of the accounts receivable revolver credit facility with Silicon Valley Bank to provide an additional $5 million in funds, making the total credit facility available, $11 million. The credit facility will be utilized for working capital purposes in order to fund future growth.

Dan Goldberger, Chief Executive Officer, commented, "We are pleased to announce this credit facility expansion, which will provide the flexibility that will allow us to continue to develop presence by meeting our inventory requirements to supply the growing demand for our products and services."

“It is our pleasure to continue Silicon Valley Bank’s partnership with Xtant Medical,” said Tom Hertzberg, Director at Silicon Valley Bank. “Xtant Medical is driving important advancements to orthopedic care. Silicon Valley Bank is committed to helping innovative life science companies like Xtant Medical to be successful.” 

Xtant Medical Holdings, Inc. develops, manufactures and markets class-leading regenerative medicine products and medical devices for domestic and international markets.

For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.

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