BETHESDA, Md.--(BUSINESS WIRE)--
Capital, Healthcare Financial Services, announced today that it has
recently provided a $2.5 million senior secured credit facility to SynGen,
Inc., a medical device company with a 510(k) approved bench-top system
for isolating stem cells from umbilical cord blood, peripheral blood and
bone marrow. GE Capital, Healthcare Financial Services is acting as
administrative agent for the credit facility. The financing will be used
to support the company's commercialization efforts.
"GE Capital provided a credit facility tailored to accommodate the
growth phase we are about to enter," said Phil Coelho, CEO for SynGen.
"They were flexible in meeting our needs and we look forward to a
"We're pleased to be able to provide financing to SynGen who is
beginning to commercialize a device that harvests adult stem cells from
blood or bone marrow for clinical use in regenerative medicine," said
Anthony Storino, senior managing director, GE Capital, Healthcare
Financial Services, Life Sciences. "We are pleased to support their
About GE Capital, Healthcare Financial Services
With in-depth industry knowledge and expertise, GE Capital, Healthcare
Financial Services has provided more than $65 billion in financing over
ten years to companies in 45 healthcare sectors including senior
housing, hospitals, medical offices, outpatient services,
pharmaceuticals and medical devices. Our team of professionals creates
business and financial solutions tailored to meet the individual needs
of our customers. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit www.gecapital.com
or follow company news via Twitter (@GECapital). GE (NYSE:GE) works on
things that matter. The best people and the best technologies taking on
the toughest challenges. Finding solutions in energy, health and home,
transportation and finance. For more information, visit the company's
website at www.ge.com.
SynGen Inc. enables regenerative cures through innovative engineering.
The company invents and commercializes products that utilize single-use
sterile plastic cartridge disposables mated to dedicated, highly
automated electromechanical medical devices to isolate and capture stem
and progenitor cells from peripheral and umbilical cord blood, bone
marrow, and adipose tissue. Our products provide an important enabling
platform for use in diagnostic, research, and clinical processes. Our
inventions are based upon interdisciplinary fields that apply principles
of engineering and life sciences to develop solutions required for
For more information browse http://www.syngeninc.com/.
Source: GE Capital, Healthcare Financial Services