CHICAGO--(BUSINESS WIRE)--Nov. 21, 2005--GE Healthcare Financial Services has provided a $20 million senior term loan to Amphastar Pharmaceuticals, Inc., a generic and specialty pharmaceutical company based in Rancho Cucamonga, Calif., that focuses on injectable and inhalation products.
Amphastar Pharmaceuticals, Inc., will use the loan proceeds for general working capital, to fund ongoing research and development and to finance $5 million of new equipment. With its industry expertise, GE Healthcare Financial Services was able to better evaluate Amphastar's assets and enterprise than a traditional bank and offer a financing solution that met the company's needs for future growth.
"We are pleased that Amphastar Pharmaceuticals, Inc. turned to GE for its financing needs," said Anthony Storino, General Manager for GE Healthcare Financial Services' life science finance group. "Our industry expertise and financial strength enabled us to evaluate the risk of this national specialty pharmaceutical firm, and quickly and effectively design a creative financing solution to help our customer grow."
Since its inception, GE's life science finance team has partnered with more than 500 companies throughout the United States, Canada and Europe, providing over $1.2 billion in financing to the life science market. The team delivers innovative and flexible financing solutions to help customers preserve their cash and liquidity. For over a decade, it has assisted life science companies large and small, from the first venture round to post-IPO.
About GE Healthcare Financial Services
GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $13 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
Contacts
GE Healthcare Financial Services
Deia Campanelli, 312-441-6169
[email protected]
Jeff Wilson
GE Capital Corporate Finance
[email protected]
1-203-749-6340