SVB Expands Stereotaxis Facility
Stereotaxis announced it entered into an amended credit agreement with Silicon Valley Bank that replaces its existing $3 million revolver with a $10 million revolver scheduled to mature on March 31, 2015.
“This extended line of credit continues SVB’s long-term relationship with Stereotaxis and reflects the significant financial progress we have made over the last 12 months,” said William Mills, Stereotaxis CEO. “While our full intention is to maintain the improved debt position we have worked so hard to achieve, this agreement provides us with financing flexibility as we continue to pursue growth opportunities and enhance our capabilities in the cardiac electrophysiology market.”
Stereotaxis develops robotic cardiology instrument navigation systems designed to enhance the treatment of arrhythmias and coronary disease, as well as information management solutions for the interventional lab.