GE Capital Provides Facility to Tangent Medical
GE Capital, Healthcare Financial Services announced that it provided a $5 million senior secured term loan credit facility to Tangent Medical, and acted as agent and sole lender for the credit facility.
The financing will be used to support the company’s commercialization and development efforts.
“We chose GE because they know our industry well and have expertise in financing companies at our stage of development,” said Jeff Williams, Tangent Medical CEO and chairman. “The GE team quickly understood our unique value drivers, and structured a credit facility that provides flexibility as we commercialize our first product.”
“We’re pleased to be able to provide working capital to Tangent at this important point in their development,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “Our team is focused on providing financing to life sciences companies to help them achieve commercial scale.”
Based in Ann Arbor, MI, Tangent Medical develops and commercializes intravenous (IV) catheters and related products for IV therapy.