{"id":28097,"date":"2014-08-13T07:42:54","date_gmt":"2014-08-13T11:42:54","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=28097"},"modified":"2014-08-13T07:42:54","modified_gmt":"2014-08-13T11:42:54","slug":"general-electric-company-nysege-provides-financial-assistance-to-cardiva-medical-for-commercialization-ramp-up-of-vascade-and-cardiva-catalyst","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/general-electric-company-nysege-provides-financial-assistance-to-cardiva-medical-for-commercialization-ramp-up-of-vascade-and-cardiva-catalyst-28097","title":{"rendered":"General Electric Company (NYSE:GE) Provides Financial Assistance To Cardiva Medical For Commercialization Ramp Up Of VASCADE\u00ae And Cardiva Catalyst\u00ae"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/13\/2014 (wallstreetpr) \u2013\u00a0<b>General Electric Company (NYSE:GE)<\/b>\u2019s GE Capital\u2019s Healthcare Financial Services announced on August 12, 2014 that it garnered an amount of $12.5 million in the form of senior secured credit facility for <a href=\"http:\/\/finance.yahoo.com\/news\/ge-capital-agents-12-5-120000608.html\"><b>Cardiva Medical<\/b><\/a><b>,<\/b> Inc. This financing amount includes term loan worth $10 million as well as asset-based revolving loan worth $2.5 million.<\/p>\n<p style=\"text-align: justify;\"><b>Cardiva Catalyst\u00ae and VASCADE\u00ae Commercialization<\/b><\/p>\n<p style=\"text-align: justify;\">The funds which have been agented will facilitate for the working capital, as Cardiva Medical is gearing up for commercialization of VASCADE\u00ae and Cardiva Catalyst\u00ae. These two are the vascular closure products. VASCADE got approval in 2013 by the FDA, and also got CE marking in the year 2012.<\/p>\n<p style=\"text-align: justify;\"><b>Statement from the CEO of Cardiva Medical<\/b><\/p>\n<p style=\"text-align: justify;\">The CEO of Cardiva Medical, <i>Charles Maroney<\/i>, said that their company needed knowledgeable financial partner, who would be able to fund the everyday capital needs for commercialization of Vascade. He added that General Electric Company (NYSE:GE)\u2019s unit, Healthcare Financial Services, impressed their company and that it also had deeper understanding of entire process which was associated with the inclusion of medical devices into market.<\/p>\n<p style=\"text-align: justify;\"><b>Cardiva Medical HFS Assistance<\/b><\/p>\n<p style=\"text-align: justify;\">Cardiva Medical is responsible for development and commercialization of vascular closure technology. This is the privately held company. The Chief Financial Officer of Cardiva Medical, Mac Farnsworth said that HFS has given a structure to this transaction in order to offer flexibility, which will allow the company in spreading its tentacles in the market. Also, it must be noted, this is the first financing of Cardiva Medical with General Electric Company (NYSE:GE).<\/p>\n<p style=\"text-align: justify;\"><b>Statement from the senior managing Director, GE Capital<\/b><\/p>\n<p style=\"text-align: justify;\">The senior managing Director, GE Capital, Life Sciences unit of Healthcare Financial Services, <i>Brett Haring<\/i> said that General Electric Company (NYSE:GE)\u2019s aim is to grow with Cardiva Medical, as it is taking on the commercialization revival and is ready to step up that podium. Brett added that it was therefore crucial to structure financial relation between these two companies so as to grow and prosper together.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/13\/2014 (wallstreetpr) \u2013\u00a0General Electric Company (NYSE:GE)\u2019s GE Capital\u2019s Healthcare Financial Services announced on August 12, 2014 that it garnered an amount of $12.5 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":19454,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1665,1664],"stock_ticker":[],"class_list":["post-28097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-general-electric-company-nysege","tag-nysege","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>General Electric Company (NYSE:GE) Provides Financial Assistance To Cardiva Medical For Commercialization Ramp Up Of VASCADE\u00ae And Cardiva Catalyst\u00ae - Wall Street PR<\/title>\n<meta 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