Press Room
ConforMIS announces $10 Million Senior Debt Financing with Merrill Lynch CapitalLEXINGTON , MA , USA – August 6, 2007 – ConforMIS, an innovative medical device company dedicated to developing and marketing patient-specific orthopedic implants, today announced the completion of a $10 million senior debt facility with Merrill Lynch Capital, a division of Merrill Lynch Business Financial Services. The $10 million debt facility will be used to support the growth of the business in preparation for a mezzanine round of financing. Proceeds from the debt facility will be used to expand the commercialization infrastructure, including expansion of the product design and manufacturing capabilities as well as the sales force. "This credit facility will provide ConforMIS with increased financial flexibility to accelerate the commercialization of our family of patient-specific knee implants, while at the same time permitting the continued development of our expanding R&D product pipeline," said Patrick Hess, CEO of ConforMIS. Philipp Lang, Chairman of the Board of ConforMIS, said: "We believe this facility is an attractive way to finance the Company's growth at an attractive cost of capital and with minimal dilution to our existing shareholders." About ConforMIS, Inc. With over 100 allowed and pending patent applications, ConforMIS has developed a portfolio of diverse, integrated intellectual property spanning multiple aspects of orthopedics. To date, the company has developed a comprehensive line of minimally invasive bone and cartilage preserving knee implants for all stages of osteoarthritis. For more information please visit www.conformis.com. About Merrill Lynch Capital |
|
