Bethesda, Md.-based GE Capital, Healthcare Financial Services says it has provided a $2.5 million senior secured credit facility to SynGen Inc., the Sacramento medical device company specializing in cord blood-processing products.
GE Capital is acting as administrative agent for the credit facility. The financing will be used to support the local company’s commercialization efforts.
“GE Capital provided a credit facility tailored to accommodate the growth phase we are about to enter,” said Phil Coelho, SynGen‘s CEO. “They were flexible in meeting our needs, and we look forward to a long-term relationship.”
The company says harvested cells can be used for treatment of numerous medical conditions, including leukemia, lymphoma and more than 70 genetic diseases.
Call The Bee’s Mark Glover, (916) 321-1184.