GE Capital Agents Facility for Medtech Company TYRX
GE Capital, Healthcare Financial Services served as administrative agent on an $8.5 million in senior secured credit facility for TYRX, Inc., consisting of a $7 million term loan and a $1.5 million revolving line of credit. The financing will be used to refinance existing debt, working capital and to support commercialization efforts.
TYRX is a developer and manufacturer of commercialization of implantable medical devices designed to help reduce surgical-site infections associated with cardiac implantable electronic devices (CIEDs) including pacemakers and implantable defibrillators.
“This financing provided by GE Capital plays an important role in our ability to create and commercialize solutions for surgical-site infections associated with implanted medical devices,” said Robert White, president and CEO of TYRX. “The GE Capital team thoroughly understands our business and structured this loan to match our needs.”
“Customers appreciate GE Capital’s healthcare domain expertise, which allows us to customize offerings to support their unique business objectives,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “We are pleased to be able to provide companies like TYRX with access to capital so that they can continue to reduce patient risks and improve quality of life.”
GE Capital, Healthcare Financial Services provides financing to companies in over 45 healthcare sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices.