Small Bone Innovations, Inc. Secures $43 Million Credit Facility (press release)
NEW YORK, Dec 07, 2011 (BUSINESS WIRE) -- Small Bone Innovations, Inc. (SBi), a leading, privately held orthopedics company focused exclusively on technologies and treatments for the small bones & joints, has closed on a $43 million credit facility to help further accelerate sales of its flagship STAR(TM) total ankle replacement technology, upper and lower limb portfolio and to refinance existing indebtedness.
The senior, secured credit facility was provided by New Health Capital Partners Fund I LP and affiliated private equity funds managed by New Health Capital Partners, LLC (together "New Health Capital Partners" or "NHCP"). New Health is focused on investing throughout the capital structure of life sciences companies, including senior secured loans, royalty monetizations, control equity investments and other structured financings.
The new credit facility has enabled SBi to repay its previous credit facility and provide working capital to continue to drive growth in the STAR ankle and its upper and lower limb product portfolio. The facility will also support a more aggressive bu...
