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GE Capital Increases Infraredx Credit Facility to $20MM

November 06, 2013, 07:20 AM
Filed Under: Medical

GE Capital, Healthcare Financial Services, announced that it has amended its existing $6.6 million senior secured credit facility to Infraredx, Inc. to provide an additional $13.4 million multi-draw term loan facility, and to modify the terms of the existing facility.  GE Capital, Healthcare Financial Services is acting as administrative agent for the credit facility.  The financing will be used to support the company’s commercialization efforts.

“Once again, we chose GE for our lender because they are highly knowledgeable about our industry and work closely with us to meet our financing needs,” said Michael Guarasci, CFO for Infraredx. “The additional capital GE has provided will be critical as we continue our commercialization efforts.” 

“We’re pleased to provide customized financing to an innovative medical device company like Infraredx,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “We’ve been their lender for several years and appreciate the opportunity to continue supporting their growth.”  

Based in Burlington, MA, Infraredx is a medical device company helping to provide practitioners with the information needed for enhanced clinical decision making in treating coronary artery disease.  The company is committed to improving the safety and efficacy of coronary stenting and ultimately serving as part of a strategy to prevent initial coronary events. Through its TVC Imaging System™, Infraredx is changing the way coronary artery disease is diagnosed and treated. The TVC Imaging System is the only intravascular imaging system that enables true vessel characterization through simultaneous structural and compositional imaging data obtained in a single pullback.

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 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.

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