BETHESDA, MD, MAY 12, 2014---GE Capital's Healthcare Financial Services (HFS) business has provided a $9 million term loan to Cerapedics, Inc., a privately-held medical device company based in Westminster, CO. The funds will be used to support Cerapedics' general business operations, including the advancement of its U.S. regulatory process.
Cerapedics is an orthobiologics company focused on developing and commercializing its proprietary synthetic small peptide (P-15) technology platform. i-FACTOR bone graft is the only biologic bone graft that incorporates a small peptide as an attachment factor to stimulate the natural bone healing process. This mechanism is designed to support safer and more predictable bone formation at a lower cost compared to commercially available bone growth factors.
"Working with a lender that specializes in the healthcare industry was a great experience," said Glen Kashuba, Cerapedics' CEO. "The GE Capital deal team invested significant time up-front, asking thoughtful questions to understand our key business drivers, and then structured a credit facility that aligned well with our objectives."
"We're impressed with Cerapedics' management, investors and growth trajectory, and we're pleased to support the company's efforts during this pivotal stage of its development," said Joe Hammer, senior vice president, life sciences with GE Capital. "We're proud to support entrepreneurs who are on the forefront of medical therapies in the U.S."
Cerapedics is an orthobiologics company focused on developing and commercializing its proprietary synthetic small peptide (P-15) technology platform. More information can be found at www.cerapedics.com.
About GE Capital, Healthcare Financial Services
GE Capital's Healthcare Financial Services 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. For the fourth consecutive year, HFS was the top lead arranger by volume and number of transactions completed for all financings under $500 million in U.S. healthcare leveraged finance.
Customers across 45 healthcare sectors --- including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices --- rely on 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 www.gecapital.com/healthcare or follow company news via Twitter.
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.
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