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Oxford Finance, Others Provide $50MM Facility to Apollo Endosurgery

December 18, 2013, 07:29 AM
Filed Under: Medical

Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, announced a $50 million round of debt financing for Apollo Endosurgery, Inc. ("Apollo"). Oxford served as the lead lender, joined by MidCap Financial, LLC and East West Bancorp.  Proceeds of the term loan are being used to acquire the obesity intervention division of Allergan, Inc. and for working capital.

"The acquisition of Allergan's obesity intervention division is an excellent opportunity for Apollo to expand its product line," said Christopher A. Herr, managing director for Oxford Finance. "This savvy business decision also will enhance the market potential for Apollo's novel endoscopic surgical tools."

"We are excited to partner with Oxford, MidCap, and East West on this transformative transaction for Apollo. From Apollo's inception, our goal has been to revolutionize the field of minimally invasive surgery," said Dennis McWilliams, CEO and Founder of Apollo Endosurgery. "Our partnership with Oxford enabled us to quickly build a strong debt syndicate to acquire the Obesity Health Division of Allergan and accelerate our vision."

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life science and healthcare services companies worldwide.

Apollo Endosurgery, Inc. is dedicated to revolutionizing patient care through the adoption of less invasive bariatric and endoscopic surgical solutions.

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