General Electric’s (NYSE:GE) GE Capital dropped a $10 million senior secured multi-draw term loan on InfraReDx for its intravascular ultrasound technology.
The Burlington, Mass.-based company plans to use the cash to commercialization its TVC imaging system, which combines IVUS and near-infrared spectroscopy to provide images of the interior of blood vessels. It’s the only FDA-device cleared for lipid core plaque detection.
The device enables cardiologists to visualize coronary plaques for guiding stent placement and to determine whether the build-ups are comprised of the fatty plaques that complicate stenting procedures and patients’ recoveries.
"We’ve worked with GE Capital in the past, so they are highly knowledgeable about our business and industry," Donald Southard, InfraReDx president & CEO, said in prepared remarks. "This expertise was essential in structuring a financing solution commensurate with the company’s immediate and longer-term growth objectives."
Late last week, GE Healthcare announced that it had invested an undisclosed amount in C8 Medisensors, a developer of non-invasive continuous glucose monitors for diabetic patients.