Daily News: May 1, 2012

ORIX Provides $15MM Facility to Primcogent Solutions

ORIX Venture Finance announced the closing of a $15 million senior secured facility for local medical company, Primcogent Solutions. The facility was structured to deliver immediate working capital to the company, while providing flexibility for future growth. Initial proceeds will be used to support the company’s national branding strategy, the hire of additional personnel, and the ongoing market expansion of the ZERONA Non-Invasive Body Contouring Device.

Located near the ORIX headquarters in Dallas, Primcogent Solutions is the exclusive licensee of the ZERONA Laser Device for fat reduction and body contouring in North America and Europe.

William Bishop, managing director and co-head of ORIX Venture Finance, commented, “We are impressed by management’s ability to effectively generate consumer awareness and achieve profitability without traditional financing. Primcogent Solutions is a fast-growing business in a publicly validated market. We hope our financing will enable them to promote their considerable competitive strengths to the entire consumer marketplace.”