Daily News: February 28, 2012

GE Capital Closes $3 Million Term Loan Facility for MedShape

GE Capital, Healthcare Financial Services announced that it was sole lender and administrative agent on a $3 million multi-draw senior secured term loan facility to MedShape, Inc. The financing will be used for general working capital purposes.

Headquartered in Atlanta, GA, MedShape is a privately held medical device company focused on developing orthopedic devices from proprietary shape memory technology. The company is working to build and commercialize a portfolio of surgical solutions that use its patented technologies to address the increasing demand for improved sports medicine, joint fusion and musculoskeletal trauma products.

“As a growing company, we were looking for a lender with deep industry knowledge that could help us meet our business objectives. The team at GE Capital, Healthcare Financial Services has extensive expertise and worked with us to create a tailored financing solution that will help us execute our growth strategy,” said Kurt Jacobus, chief executive officer of MedShape.

“We are pleased to support innovative companies like MedShape and welcome them as a new customer. This financing will allow the company flexibility to expand and remain a top medical device provider,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences.

GE Capital, Healthcare Financial Services has provided more than $60 billion in financing over ten years to companies in over 40 healthcare sectors.