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GE Capital HFS Increases OraMetrix Credit Facility to $10MM

July 14, 2014, 07:32 AM
Filed Under: Medical

GE Capital’s Healthcare Financial Services (HFS) business announced it is the sole lender on a $10 million senior secured term loan for OraMetrix, Inc. This transaction refinances the company’s previous $7.5 million multi-draw senior secured term loan facility and provides it with an additional $2.5 million. Based in Richardson, TX, OraMetrix produces SureSmile, a digital and robotic system for orthodontic treatment. The funds will be used for working capital and growth initiatives.

“The HFS Life Science Finance team proactively engaged with us and our investors to provide additional capital, defer principal repayments and extend the loan term to help accelerate growth initiatives,” said Charles Abraham, CEO of OraMetrix. “We’re pleased to expand our relationship with GE Capital and we appreciate its ongoing support.”

“OraMetrix has performed well. Together with its supportive investors and GE financing, OraMetrix expects to build new growth opportunities over the next few years,” said Brett Haring, senior managing director of HFS’ Life Science Finance business. “This transaction exemplifies our ability to build strong relationships with our customers and deliver proactive financing solutions to support their expansions.”

Established in 1998, OraMetrix developed the SureSmile system, a technology that equips orthodontists with a diagnostic, treatment and monitoring tool to deliver customized orthodontic care. Since 2004, SureSmile has been used on 100,000 patients by over 400 orthodontists in the U.S., Australia and Canada.

GE Capital’s Healthcare Financial Services (HFS) 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 $65 billion in financing over the past ten years.

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