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Bridge Bank Provides $10MM Term Loan to Viveve Medical

June 21, 2016, 07:56 AM
Filed Under: Medical
Related: Bridge Bank

Viveve Medical, Inc., a medical technology company focused on women's health, has completed a debt refinancing that includes a new senior secured term loan of $10 million with the Life Sciences Group of Bridge Bank, a full-service professional business bank headquartered in San Jose. The proceeds from the loan will be used to repay Viveve's existing outstanding indebtedness with Pacific Western Bank, as successor in interest to Square 1 Bank and to provide general working capital to fund its operations. The new term loan will expand Viveve's access to capital as it carries out its plan of operations.

"We are very pleased with our new relationship with Bridge Bank, which will provide us with additional access to capital as we execute our global commercialization plan," commented Patricia Scheller, the Company's chief executive officer. "We are appreciative of the new relationship and financial support we are gaining with this transaction."

"Bridge Bank is excited to be a resource and partner to Viveve Medical, Inc., said Rob Lake, senior vice president and head of Bridge Bank's life sciences group. "I have known the company for a long time and am impressed with its accomplishments, as well as its trajectory."

Viveve Medical, Inc., is a women's health company passionately committed to advancing new solutions to improve women's overall well-being and quality of life. The company's lead product, the globally patented Viveve System, is a non-surgical, non-ablative medical device that remodels collagen and restores tissue with only one treatment session.

Bridge Bank is a division of Western Alliance Bank, the go-to-bank for business in its growing markets.

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