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GE Capital Agents $19MM Facility for Rapid Micro Biosystems

December 15, 2014, 08:03 AM
Filed Under: Life Sciences

GE Capital’s Healthcare Financial Services business announced it has agented a senior secured credit facility of up to $19 million for Rapid Micro Biosystems, Inc. The company provides innovative products for faster detection of microbial contamination in the manufacture of pharmaceutical, biotechnology, and personal care products. The financing, comprised of a revolving credit facility and two term loan facilities, will provide working capital as the company ramps up the commercialization of its products.

Rapid Micro Biosystems’ Growth Direct ™ System consists of an automated imaging instrument that analyzes user-prepared proprietary consumables. The system and consumables were designed to optimize test performance and ease-of-use. The company is based in Lowell, MA.

"We value GE Capital’s deep expertise in healthcare and thorough understanding of the process for bringing sophisticated life sciences products to market," said Robert Spignesi, CEO of Rapid Micro Biosystems. “We are pleased to have a knowledgeable and reliable financial partner funding our day-to-day capital needs during this critical period in our development.”

“Our life sciences team specializes in capital-efficient structures for promising venture capital-backed companies as they begin to commercialize their products,” said Brett Haring, senior managing director of GE Capital, Healthcare Financial Services, Life Science Finance business.

GE Capital’s Healthcare Financial Services business is one of the most active capital providers in the U.S. healthcare market, deploying approximately $9 billion in new commitments to customers via 200+ transactions in 2013. That adds up to more than $70 billion in financing over the past ten years.

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