Daily News: December 6, 2012

Ares Capital Provides $11MM Credit Facility to SurgiQuest

SurgiQuest announced that the company has closed $18.5 million equity and debt financing. The financing, closed at the end of September 2012, includes a $7.5 million round of series D preferred stock equity as well as an $11 million credit facility provided by Ares Capital.

All of SurgiQuest’s existing investors participated in the series D preferred financing, which was an up-round from the previous round of equity financing.

“We are excited that our existing investors firmly believe in both our technology as well as our ability to achieve our strategic plans for growth and profitability, and we appreciate the support from our new lending partner, Ares Capital Corporation,” Kurt Azarbarzin, founder and CEO of SurgiQuest, said. “This round of funding enables us to aggressively expand our organizational capabilities to meet the rapidly increasing worldwide demand for the AirSeal System.”

SurgiQuest is a privately held venture-backed company that develops, manufactures and markets access technologies for minimally invasive surgery.

Ares Capital is a specialty finance company that provides financing solutions to U.S. middle-market companies and private equity sponsors.