Daily News: February 27, 2014

GE Capital Agents SynGen Facility

GE Capital, Healthcare Financial Services announced that it recently provided a $2.5 million senior secured credit facility to SynGen, and is acting as administrative agent for the credit facility.

The financing will be used to support the company’s commercialization efforts.

“GE Capital provided a credit facility tailored to accommodate the growth phase we are about to enter,” said Phil Coelho, CEO for SynGen. “They were flexible in meeting our needs and we look forward to a long-term relationship.”

“We’re pleased to be able to provide financing to SynGen who is beginning to commercialize a device that harvests adult stem cells from blood or bone marrow for clinical use in regenerative medicine,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “We are pleased to support their commercialization plans.”

SynGen enables regenerative cures through innovative engineering.