Daily News: July 11, 2013

White Oak Provides $33MM Debt Facility to Hansen Medical

Hansen Medical announced that it signed a $33 million, long-term, debt agreement with White Oak Global Advisors. The new facility will require quarterly interest-only payments through December 30, 2017, at which time the company will also pay the principal balance. The proceeds from this new facility will be used to refinance the company’s current $30 million debt facility, and related fees. The existing facility will then be retired in its entirety.

“We are pleased to have secured this long-term, interest-only facility providing us with a significant liquidity enhancement over the next 30 months”, said Peter J. Mariani, Hansen Medical’s chief financial officer. “This new agreement will also provide the Company with a foundation of long-term capital as we continue to commercialize our Magellan(TM) Robotic System, drive further adoption of our Sensei X(TM) Robotic System and strengthen operations across the Company.”

The DiBari Group acted as debt advisor to Hansen Medical for the new debt agreement.

Hansen Medical, based in Mountain View, CA, is a global leader in intravascular robotics, and develops products and technology designed to enable the accurate positioning, manipulation and control of catheters and catheter-based technologies.