BETHESDA, Md., Dec 05, 2011 (BUSINESS WIRE) -- GE Capital, Healthcare Financial Services announced today that it was the sole lender on a $10 million senior secured multi-draw term loan to InfraReDx, Inc., a medical device company committed to advancing the diagnosis and management of coronary artery and other vascular diseases. The financing will be used to help support product commercialization efforts.
"We've worked with GE Capital in the past so they are highly knowledgeable about our business and industry," said Donald Southard, president and chief executive officer, InfraReDx. "This expertise was essential in structuring a financing solution commensurate with the company's immediate and longer term growth objectives."
Based in Burlington, MA, InfraReDx develops intelligent imaging technologies to advance the diagnosis and treatment of coronary heart disease. The company's TVC Imaging System(TM) is a first-in-class intravascular imaging system providing information critical for evaluating vessel structure and chemical composition, helping to more fully characterize a vessel. It is the only multimodality imaging system to combine both intravascular ultrasound (IVUS) and near-infrared spectroscopy (NIRS). The TVC Imaging System is the only device cleared by the U.S. Food and Drug Administration for the detection of lipid core plaques of interest, which are known to complicate stenting and are believed to cause the majority of heart attacks.
"We support healthcare innovation through the credit facilities we provide to promising young companies like InfraReDx," said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. "The capital we provide helps our customers to invest and grow."
About GE Capital, Healthcare Financial Services
With in-depth industry knowledge and expertise, GE Capital, Healthcare Financial Services has provided more than $60 billion in financing to companies in over 40 healthcare sub-sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices. Our team of professionals creates business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE /quotes/zigman/227468/quotes/nls/ge GE +1.96% is a diversified infrastructure, finance and media company taking on the world's toughest challenges. Visit ge.com.
SOURCE: GE Capital
GE Capital, Americas
Ned Reynolds, 203-229-5717
GE Capital, Healthcare Financial Services
Jeanne DeLeonardo, 203-229-5244