BIOLASE Secures $8 Million Revolver With Comerica Bank
BIOLASE, Inc., a dental laser manufacturer and distributor, announced that it has secured a new $8 million revolving credit facility with Comerica Bank. The new two-year credit facility is based on the company’s eligible accounts receivable and inventory and will be used for working capital purposes.
Chief operating officer and CFO Fred Furry said, “We are very pleased to be partnering with Comerica Bank. This credit facility gives us substantial access to capital as we invest in new product lines and platforms, and eliminates any liquidity issues that could arise as we work diligently to rapidly return to a cash flow positive mode in the current year.”
BIOLASE is a medical technology company that develops, manufactures and markets dental lasers and also distributes and markets dental imaging equipment; products that are focused on technologies that advance the practice of dentistry and medicine.