Harrow Health amended its loan agreement with SWK Funding and its partners. Under the amended terms of the loan, Harrow Health and SWK agreed to extend the interest only period for the next 12 months, reduce the interest rate, and provide access, at Harrow’s option, to an additional $5 million of capital. The amended terms provide for further reductions in the interest rate based upon achievement of certain financial goals.
Mark L. Baum, CEO of Harrow Health, said, “We are excited to continue our relationship with SWK. They’ve been our financial partners since our original loan agreement in July 2017 and we’re appreciative the SWK team has rewarded Harrow’s progress by lowering our cost of capital as we continue to execute our strategy and grow our business.’
SWK Holdings is a specialized finance company with a focus on the global healthcare sector.
Harrow Health owns a portfolio of healthcare businesses, including the nation’s leading ophthalmology pharmaceutical compounding business, ImprimisRx.