BETHESDA, Md.--(BUSINESS WIRE)--GE Healthcare Financial Services served as lead arranger and administrative agent on a $25 million senior secured credit facility to Akorn, Inc., a leading specialty pharmaceutical company focused on developing, manufacturing and marketing pharmaceutical products. Financing will be used for Akorn's general corporate purposes and working capital needs.
"GE Healthcare Financial Services' financial and industry expertise, responsiveness and proven execution in a turbulent market was just what we were looking for in a lender," said Arthur S. Przybyl, Chief Executive Officer of Akorn. "We first approached GE when our existing credit facility was about to expire. GE expressed with confidence that they could meet our financing needs --- and they did."
"We remain focused on working closely with customers to provide smarter capital to help meet their business objectives," said Robert McCarrick, Senior Managing Director for GE Healthcare Financial Services' Corporate Finance group. "In today's challenging market, healthcare customers clearly benefit from GE's industry expertise and experience lending through tough cycles."
About Akorn
Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey, and markets and distributes an extensive line of hospital and ophthalmic pharmaceuticals. For more information, visit www.akorn.com.
About GE Healthcare Financial Services
GE Healthcare Financial Services is the premier provider of capital, financial solutions, and related services for the healthcare market. With approximately $13 billion in assets, GE Healthcare Financial Services offers a full range of financing capabilities from real estate financing and working capital lending to acquisition financing. With a dedicated focus and a deep knowledge of the healthcare industry, GE Healthcare Financial Services collaborates with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
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. GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve significant risks and uncertainties that may cause results to differ materially from those set forth in the statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Deia Campanelli
GE Transportation
[email protected]
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