GE Capital‘s healthcare financial services business has provided a senior credit facility of up to $19 million for Rapid Micro Biosystems. The financing will be used for working capital. Based in Bedford, Mass., Rapid Micro Biosystems is a provider of quality control solutions in pharmaceutical manufacturing.
BETHESDA, Md.–(BUSINESS WIRE)–GE Capital’s Healthcare Financial Services business announced today that it has agented a senior secured credit facility of up to $19 million for Rapid Micro Biosystems, Inc. The company provides innovative products for faster detection of microbial contamination in the manufacture of pharmaceutical, biotechnology, and personal care products. The financing, comprised of a revolving credit facility and two term loan facilities, will provide working capital as the company ramps up the commercialization of its products.
Rapid Micro Biosystems’ Growth Direct ™ System consists of an automated imaging instrument that analyzes user-prepared proprietary consumables. The system and consumables were designed to optimize test performance and ease-of-use. The company is based in Lowell, MA.
“We value GE Capital’s deep expertise in healthcare and thorough understanding of the process for bringing sophisticated life sciences products to market,” said Robert Spignesi, CEO of Rapid Micro Biosystems. “We are pleased to have a knowledgeable and reliable financial partner funding our day-to-day capital needs during this critical period in our development.”
“Our life sciences team specializes in capital-efficient structures for promising venture capital-backed companies as they begin to commercialize their products,” said Brett Haring, senior managing director of GE Capital, Healthcare Financial Services, Life Science Finance business.
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 $70 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 — 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 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).
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