NEW YORK--(BUSINESS WIRE)--Deerfield announced today that it has funded a $25,000,000 financing facility for Imris, Inc. Imris is a Canadian company which provides a fully integrated, image-guided therapy environment designed to provide timely information to clinicians during surgical or interventional procedures. Intra-operative MRI is becoming the standard of care in the developed world and the Imris solution is unique in that it avoids the need to move patients during neurosurgery. While the company has generated over $50,000,000 in revenues for each of the last four years, future expansion to intraoperative CT, radiation oncology and robotic neuro-surgery offers the potential for meaningful future growth.
Deerfield received a note with a 9% coupon along with warrants which could represent approximately 10% of the company’s shares upon exercise. Deerfield also collected a $500,000 facility fee.
IMRIS (NASDAQ: IMRS; TSX: IM) is a global leader in providing image guided therapy solutions through its VISIUS Surgical Theatre - a revolutionary, multifunctional surgical environment that provides unmatched intraoperative vision to clinicians to assist in decision making and enhance precision in treatment. The multi-room suites incorporate diagnostic quality high-field MR, CT and angio modalities accessed effortlessly in the operating room setting. VISIUS Surgical Theatres serve the neurosurgical, spinal, cardiovascular and cerebrovascular markets and have been selected by 54 leading medical institutions around the world.
Deerfield is a leading investment management firm, committed to advancing healthcare through investment, information and philanthropy.
For more information, please visit www.deerfield.com