White Oak Provides Term Loan Facility to Intravascular Robotics Provider
White Oak Global Advisors announced the funding of a $33.0 million senior secured term loan to a global provider of intravascular robotics products and technology. The financing was used to refinance existing debt and will support the continued development of the company’s product pipeline.
White Oak was the administrative agent and sole lender for this transaction.
The publicly traded company has developed technology that supports two industry trends: the increase in minimally invasive surgery and interventional procedures. Originally founded to develop products and technology using robotics for accurate positioning, manipulation and stable control of catheters and catheter-based technologies, the company has capitalized on growing market opportunities. They now have one of the strongest intellectual property positions in the medical robotics industry with more than 250 issued and pending patents, aiming to provide physicians with tools for procedural and therapeutic success.