Daily News: March 28, 2014

Bridge Bank Provides $8.75MM to North Coast Medical for ActivaTek Buy

Bridge Capital Holdings, whose subsidiary is Bridge Bank, announced it provided financing to North Coast Medical for the acquisition of ActivaTek and to support its working capital needs and growth into new arenas.

“Building a partnership with Bridge Bank facilitates both our growth through acquisition and international expansion strategy. After conducting our due diligence and comparing potential banking partners, we found Bridge Bank the most in-line with our ambitious growth plans,” said Mark E. Biehl, CEO of North Coast Medical.

“As we enter our 40th year, the acquisition of ActivaTek continues our history of performance and innovation, providing us the opportunity to distribute the best-in-class technology to more customers around the world,” added COO, Jeff Applegate.

“The combination of credit facilities which includes a line of credit for working capital needs and acquisition funds provides the companies greater financial flexibility for existing business needs, as well as support for their continued growth in new markets,” states Cathy Galusha, vice president and relationship manager, Corporate Banking Division at Bridge Bank. “Bridge Bank is proud to be part of this growth process and we look forward to sharing in the firm’s continued success.”

Gilroy, CA-headquartered North Coast Medical manufactures, supplies and distributes a broad range of product lines across a continuum of rehabilitation medical care.

ActivaTek provides advanced technologies to the Iontophoresis market.