GE Capital serves as sole lender to Mitralign for $5 million senior secured credit facility

GE Capital, Healthcare Financial Services announced today that it served as agent and sole lender to Mitralign, Inc. for a $5 million senior secured credit facility. Mitralign will use the credit facility for working capital as the company advances development of its mitral valve repair device.

“We were looking for a lender that knew our business and had unsurpassed financing expertise, and GE Capital, Healthcare Financial Services met all of our business needs.”

Based in Tewksbury, Massachusetts, Mitralign, Inc. is developing an innovative, catheter-based method to effectively treat mitral regurgitation in patients suffering from congestive heart failure, combining surgical precision with interventional therapy.

John Schulte, chief executive officer for Mitralign, said, "We were looking for a lender that knew our business and had unsurpassed financing expertise, and GE Capital, Healthcare Financial Services met all of our business needs."

"This new facility will help Mitralign invest in their existing businesses and support further advancement of their mitral valve repair device, which we believe will be an important development in the treatment of mitral regurgitation in patients suffering from congestive heart failure," said Anthony Storino, senior managing director, life sciences, for GE Capital, Healthcare Financial Services. "Our industry expertise enables us to provide Mitralign with the best financing solution to meet their overall business objectives."

Source GE Capital, Healthcare Financial Services