Tepha receives $3.2 million credit facility from GE Capital

GE Capital, Healthcare Financial Services today announced it has provided a $3.2 million credit facility to Tepha, Inc. The financing provides Tepha with working capital as it expands global commercialization efforts.

“GE's combined healthcare and financing expertise provides our customers the resources they need to reach critical business objectives, including advancements in vital healthcare technology products.”

Based in Lexington, MA, Tepha, Inc. is a developer of medical devices derived from a new class of resorbable polymers that have been engineered utilizing recombinant DNA technology. Tepha received its first FDA 510(k) clearance for its TephaFLEX® Absorbable Suture in February, 2007 and the Company and its partners have now received five 510(k)'s covering a range of medical devices including sutures, meshes, and films.

Simon Williams, chief executive officer for Tepha, Inc, said, "GE's industry knowledge, financing expertise, professionalism and trustworthiness are the reasons we chose them as our lender."

"We are pleased to provide capital to Tepha, Inc. as they work towards global commercialization of their products," said Anthony Storino, senior managing director, life sciences, for GE Capital, Healthcare Financial Services. "GE's combined healthcare and financing expertise provides our customers the resources they need to reach critical business objectives, including advancements in vital healthcare technology products."