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.
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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.
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"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.
