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.
“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.
Copyright Business Wire 2014