GE Capital Increases Credit Facility for OraMetrix
BETHESDA, Md.--(BUSINESS WIRE)--GE Capital’s Healthcare Financial Services (HFS) business announced today that it is the sole lender on a $10 million senior secured term loan for OraMetrix, Inc. This transaction refinances the company’s previous $7.5 million multi-draw senior secured term loan facility and provides it with an additional $2.5 million. Based in Richardson, TX, OraMetrix produces SureSmile, a digital and robotic system for orthodontic treatment. The funds will be used for working capital and growth initiatives.
“OraMetrix has performed well. Together with its supportive investors and GE financing, OraMetrix expects to build new growth opportunities over the next few years”
“The HFS Life Science Finance team proactively engaged with us and our investors to provide additional capital, defer principal repayments and extend the loan term to help accelerate growth initiatives,” said Charles Abraham, CEO of OraMetrix. “We’re pleased to expand our relationship with GE Capital and we appreciate its ongoing support.”
“OraMetrix has performed well. Together with its supportive investors and GE financing, OraMetrix expects to build new growth opportunities over the next few years,” said Brett Haring, senior managing director of HFS’ Life Science Finance business. “This transaction exemplifies our ability to build strong relationships with our customers and deliver proactive financing solutions to support their expansions.”
About OraMetrix, Inc.
Established in 1998, OraMetrix developed the SureSmile system, a technology that equips orthodontists with a diagnostic, treatment and monitoring tool to deliver customized orthodontic care. Since 2004, SureSmile has been used on 100,000 patients by over 400 orthodontists in the U.S., Australia and Canada. For more information, go to http://www.suresmile.com/.
About GE Capital, Healthcare Financial Services
GE Capital’s Healthcare Financial Services (HFS) business is one of the most active capital providers in the U.S. healthcare market, deploying approximately $9 billion in new commitments to customers via 200+ transactions in 2013; that adds up to more than $65 billion in financing over the past 10 years.
Customers across 45 healthcare sectors — including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices — look to HFS to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth industry knowledge and expertise, the HFS team of professionals creates business and financial solutions tailored to meet the individual needs of its customers. For more information, visit gecapital.com/healthcare or follow company news via Twitter (http://twitter.com/GELendLease).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (http://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.