GE Capital, Healthcare Financial Services, an operating unit
General Electric Company
), recently acted as an administrative agent to close a senior
secured credit facility worth $8.5 million for TYRX, Inc. The
transaction will likely enhance the liquidity of TYRX and
facilitate the working capital requirements to fuel further
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Since its inception in 1998, TYRX has provided cost-effective
solutions for surgical-site infections (SSIs) and inflammatory
tissue-reaction associated with cardiac implanted medical devices
such as pacemakers and defibrillators. The company manufactures a
broad range of drug-device combination products utilizing a novel
polymer technology and a world-wide license from Rutgers, The
State University of New Jersey. In addition, TYRX also has a
license from Baylor College of Medicine and The University of
Texas M. D. Anderson Cancer Center to address the problems of
post-surgical infection and fibrosis.
The company anticipates utilizing its technological expertise to
manufacture such products for the worldwide market, which is
expected to be the highest growth segment in the medical products
industry. Medical implant-related infections and fibrosis
reportedly add an estimated $3.8 billion to annual U.S.
healthcare costs. With a market clearance for a number of
products and proprietary technologies, TYRX is strategically
positioned to capitalize on this segment in the imminent future.
The debt financing by General Electric is expected to work a long
way in its continuous endeavor to fulfill such social commitments
for the overall improvement of patients.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world,
competing with industry bigwigs such as
Federal Signal Corp.
Tyco International Ltd.
). With products and services ranging from aircraft engines,
power generation, water processing, and security technology to
medical imaging, business and consumer financing, media content
and industrial products, it serves customers in more than 100
countries and employs more than 287,000 people worldwide.
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. With more than $60 billion in
financing over 10 years to various companies in the healthcare
sector, GE Capital, Healthcare Financial Services possesses an
in-depth industry know-how and expertise. General Electric
currently has a Zacks Rank #4 (Sell).