Daily News: February 5, 2014

Horizon Technology Leads $8MM Venture Loan to AccuVein

Specialty finance company Horizon Technology Finance announced it led an $8 million venture loan for AccuVein, a developer of vein illumination technology.

The venture loan was fully funded at closing, with Horizon funding its commitment of $4 million. AccuVein will use the funds primarily for working capital purposes.

“AccuVein’s vein illumination device provides a more effective venipuncture procedure that enhances patient care and creates greater efficiencies in healthcare delivery,” stated Gerald A. Michaud, president of Horizon. “We are pleased to provide AccuVein this venture loan as the company ramps global sales of its proprietary medical imaging technology.”

“We welcome Horizon as our new value-added financing partner,” stated Daniel Delaney, AccuVein COO. “This important growth capital will allow us to continue to drive AccuVein vein illumination as the standard of care in healthcare settings worldwide as we continue to address an $8 billion market opportunity.”