Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $31.6 million debt financing expansion with Proteus Digital Health. The financing package, which was provided to Proteus Digital Health from both Oxford and Silicon Valley Bank, included a senior secured term loan and a revolving line of credit. Proceeds of the loan will be used for working capital growth.
"Proteus has an exciting, advanced platform technology with broad applications that can improve patient care and self-health management," said Christopher A. Herr, managing director for Oxford Finance. "We are pleased to provide additional funds to Proteus, and continue to be impressed with its visionary management team, led by Andrew Thompson, co-founder and chief executive officer."
"The flexibility provided by this financing will allow Proteus to continue to innovate and improve patient outcomes," said Jason Hughes, managing director for Silicon Valley Bank. "We are looking forward to all that comes next from the Proteus team."