The PrivateBank has provided both debtor-in-possession financing and $20 million in senior secured exit financing to Cardiac Science.  A portfolio company of Aurora Resurgence, Cardiac Science is a manufacturer of automated external defibrillators (AEDs) for the public access, education, police and fire and rescue markets.

Waukesha, WI-based Cardiac Science has operations in North America, Europe and Asia, with an installed base in nearly 100 countries.

“We were presented with a new opportunity to provide debtor-in-possession financing by Cardiac’s team of advisors,” said Bob Corsentino co-head of Asset-Based Lending. “The PrivateBank was able to structure a facility to accommodate the working capital needs of the company while it was operating under bankruptcy protection. Upon Aurora Resurgence’s acquisition of the assets in a 363 sale, The PrivateBank also provided and funded a facility to accommodate the working capital needs of Cardiac upon exit.”

“The PrivateBank expeditiously delivered a comprehensive financing solution for Cardiac Science that allowed the company to maintain its momentum while operating under bankruptcy protection. Their responsiveness and collaborative approach made The PrivateBank a logical financial partner upon exit,” said Sean Ozbolt, partner at Aurora Resurgence.

Aurora Resurgence is a private equity firm focused on investing in equity and debt securities of middle market companies.