Centinel Spine Secures $60 Million Financing to Expand Business
Centinel Spine Secures Major Financing Milestone
Centinel Spine®, LLC, a forefront player in the medical device industry, is excited to announce its recent successful refinancing move. The company has finalized a senior secured loan agreement with credit funds managed by SLR Capital Partners, LLC. This deal delivers immediate access to $60 million in capital, with options to draw an additional $10 million as needed. This significant funding is poised to support Centinel Spine's ongoing growth and operational needs.
Financing Benefits to Centinel Spine
According to Varun Gandhi, CFO of Centinel Spine, this refinancing is a pivotal moment for the company. The new loan agreement not only settles the existing credit facility but also carries advantageous terms that bolster the company's growth strategy. Centinel Spine is witnessing substantial progress in its motion preservation sector, having more than doubled its revenues from two years prior, alongside demonstrating positive EBITDA for seven consecutive quarters.
Strategic Growth and Development
The commitment from SLR Capital Partners signifies strong confidence in Centinel Spine’s business strategy. As noted by Anthony Storino, a Partner at SLR, they are thrilled to inject their expertise in life sciences into Centinel’s ongoing ventures, specifically in expanding their innovative technologies designed for spinal treatment. This partnership underscores the combined strengths that will enhance patient care through advanced medical solutions.
Innovative Product Offerings
Centinel Spine’s flagship product, prodisc®, stands as the most comprehensive total disc replacement technology available today. This system has been validated through extensive research, boasting over 540 published studies and approximately 275,000 successful implantations worldwide. The company emphasizes their unique ability to tailor the prodisc® system, enabling surgeons to provide personalized care that aligns with each patient’s anatomical needs.
Commitment to Healthcare Excellence
In the words of CEO Steve Murray, the Match-the-Disc™ portfolio has gained remarkable traction within the surgeon community, reflecting the robust performance of the company’s offerings in recent quarters. The refinancing secured will empower Centinel Spine to continue enhancing its product range and sustaining profitability, driving the mission of becoming the leading name in total disc replacement technology.
About Centinel Spine
Established as a leader in medical devices, Centinel Spine, LLC remains focused solely on addressing issues related to cervical and lumbar spinal diseases. Their commitment to innovation and clinical outcomes sets them apart in the market, making prodisc® the go-to choice for healthcare professionals.
Contact Information
For additional details about Centinel Spine or inquiries, please reach out to:
Varun Gandhi
CFO
900 Airport Road, Suite 3B
Phone: 484-887-8871
Frequently Asked Questions
What is the recent financial milestone achieved by Centinel Spine?
Centinel Spine has entered into a senior secured loan agreement with SLR Capital Partners, securing $60 million initially, with options for more funding.
How will the funds from the refinancing be used?
The funding will retire existing credit facilities, cover related costs, and increase working capital for continued growth.
What impact does this refinancing have on the company's growth?
This refinancing allows Centinel Spine to invest further in its growth initiatives, particularly in expanding its motion preservation business.
How does the prodisc® system stand out in the market?
Prodisc® is recognized as the most studied total disc replacement platform, allowing tailored solutions for individual patient anatomy.
Who can be contacted for more information about Centinel Spine?
Varun Gandhi, CFO, is the primary contact for inquiries regarding the company's operations and financial matters.
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