NORWALK, Conn.--16 March 2009-- GE Capital's Healthcare Financial Services business today announced an $89 million senior credit facility provided to Vesta Inc., a RoundTable Healthcare Partners portfolio company. A portion of the proceeds was used to complete the acquisition of ExtruMed LLC.
ExtruMed is an independent manufacturer of high precision thermoplastic tubing for diagnostic and therapeutic medical devices and procedures.
Vesta is a global manufacturing and support services company for the OEM medical device industry providing silicone moldings, extruded tubing, assemblies, and secondary operations within ISO-certified facilities.
"We appreciate GE's ability to support us in this important acquisition, especially given the challenges now in the credit markets," said David Koo, Senior Partner, RoundTable Healthcare Partners. "Doing business in healthcare today requires working with capital providers who really know the industry."
"RoundTable Healthcare Partners and Vesta are valued customers of ours, so we are pleased to be able to lead the senior credit facility to help Vesta complete this acquisition," said Robert McCarrick, Managing Director, Corporate Finance, GE Healthcare Financial Services. "GE continues to put capital to work to support middle market companies, and healthcare remains an important focus for us."
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry.
About GE Healthcare Financial Services
With over $13 billion invested, GE Healthcare Financial Services is a premier provider of capital and services to the healthcare industry, with investments in more than 30 sub-sectors including long-term care, hospitals, pharmaceuticals, and medical devices. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. For more information, visit www.gehealthcarefinance.com.
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at www.ge.com.
Ned Reynolds
GE Capital
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