GE Capital, HFS Agents Assurex Health Financing
Assurex Health announced that it has secured a $25 million term and revolving credit facility to support increasing clinical adoption of its GeneSight products. GE Capital, Healthcare Financial Services, acting as agent, and Silicon Valley Bank financed the credit facility.
Existing investors, including funds managed by Sequoia Capital, Claremont Creek Ventures, Mayo Clinic, Cincinnati Children’s Hospital Medical Center, CincyTech, Allos Ventures, Four Rivers Partners, Danmar Capital and jVen Capital, provided an additional $7 million to complete the $32 million financing. The new financing will help Assurex Health continue building the leading neuropsychiatric personalized medicine company.
“Our combination of healthcare knowledge and structuring expertise means our customers have access to the capital they need to fund growth and other strategic initiatives,” said Neil Bonanno, senior vice president of Life Sciences for GE Capital, Healthcare Financial Services. “We are pleased to support Assurex Health during this exciting time in the company’s commercial growth.”
Assurex Health is a personalized medicine company that provides clinically-relevant individualized genetic information to help physicians select the right medication for patients with depression, anxiety, chronic pain, ADHD and other neuropsychiatric disorders.