SVB Extends Stereotaxis Facility
Stereotaxis extended the maturity of its revolver with Silicon Valley Bank (SVB) by three years to March 31, 2018. The amended agreement maintains the existing line capacity of $10 million, which was increased from $3 million in 2014.
“This three-year credit agreement strengthens our ability to finance growth opportunities and is a significant endorsement of our continued improvement in financial performance,” said William C. Mills, Stereotaxis CEO. “We are proud of SVB’s long-term commitment to Stereotaxis, which illustrates strong support of our strategic initiatives and growth potential as the leader in robotic solutions for the cardiac electrophysiology market.”
Ben Johnson, managing director of Silicon Valley Bank, said, “We are pleased to continue our partnership with Stereotaxis as they remain focused on growing the business through innovative technologies. Our relationship with the Company has been very positive for both of us, and we look forward to working together as they continue to pursue their clinical and commercial objectives.”
Stereotaxis is a healthcare technology and innovation developer of 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.