Maranon Capital Agents Senior Secured Term Loan to Refinance Biotronic NeuroNetwork

CHICAGO--(BUSINESS WIRE)--Maranon Capital, L.P. today announced that it provided a $46 million senior secured term loan to Biotronic NeuroNetwork, a portfolio company of Great Point Partners, LLC. Proceeds from the loan were used to refinance the Company’s existing debt. Maranon originated the transaction and was Administrative Agent for the lender group.

Founded in 1978 and headquartered in Ann Arbor, Michigan, Biotronic is a national provider of intra-operative neurophysiological monitoring ("IONM") services. IONM refers to the monitoring of critical nerve functions during various types of surgeries, including orthopedic, spinal, neurocranial, vascular, and cardiothoracic. Outsourced IONM, both onsite and remotely supported, improves surgical outcomes and safety, decreases litigation risk, and reduces cost burdens for hospitals. Biotronic has more than 200 technicians and neurologists providing technical and professional services in more than 20,000 procedures per year to over 300 hospitals and 1,000 surgeons. Additional information about Biotronic can be found at www.biotronic.com.

About Maranon Capital

Maranon Capital, L.P. is an alternative investment management firm focused on private credit investments in middle market companies. Maranon’s competitive edge is its multi-product strategies that span the balance sheet with value-added financing and equity co-investments. Since 2008, Maranon has raised $1.5 billion of institutional capital across private funds and managed accounts. For more information about Maranon Capital please visit www.maranoncapital.com.

About Great Point Partners

Great Point Partners, LLC, founded in 2003 and based in Greenwich, Connecticut, is a leading healthcare investment firm with approximately $800 million of equity capital under management. Great Point invests across all sectors of the healthcare industry with particular emphasis on biopharmaceutical infrastructure, devices and diagnostics, healthcare services, outsourcing, and information technology. Since its inception, Great Point has provided growth equity, growth recapitalization, and management buyout financing to more than 100 healthcare companies. Additional information about Great Point can be found at www.gppfunds.com.