Xtant Medical Holdings, a manufacturer of orthopedic products for domestic and international markets, completed an accounts receivable revolver credit facility with Silicon Valley Bank to provide up to $6 million in funds to the company.
“We are extremely pleased to announce this new credit facility, which improves our financial flexibility, allowing us to continue execution of our near-term growth strategy,” said Dan Goldberger, CEO of Xtant. “We now have additional liquidity available to build inventories to meet the backlog of demand for our products. This new credit facility is an important milestone in the continued growth of our company.”
“We’re thrilled to be partnered with Xtant Medical Holdings, as the company continues to expand its portfolio of orthopedic products to improve the quality of patient’s lives,” added Priya Iyer, director with SVB’s Life Sciences and Healthcare practice. “Our objective is to provide the Xtant team with the right financing, connections and global services that they need to meet their corporate objectives.”