Epica International – a global leader in advanced medical imaging and precision robotics – announced the closing of an $18 million growth capital credit facility with [Avenue Venture Opportunities Fund, L.P. and Avenue Venture Opportunities Fund II, L.P., which are funds of Avenue Capital Group. And the initial funding of $13.5 million will be used to refinance existing debt, support strategic expansion, and accelerate research and development initiatives. An additional $4.5 million is available in tranches based on the achievement of specific performance milestones.
This growth capital loan has a four-year term and includes provisions for Avenue Capital to receive a 0.5% equity stake in Epica International, with an option to invest an additional $2 million in equity within two years. The lender also has the right to convert up to $3.5 million of their principal into common stock at a price of $8.50 per share.
Epica International’s advanced medical imaging and precision robotics solutions are used in a wide range of applications, including human and animal healthcare and research. And the company’s patented technologies enhance user accuracy and outcomes, enabling clinicians and researchers to achieve new levels of precision and efficiency.
These industrial robotics division specializes in innovative robotic solutions designed to streamline manufacturing processes. And by combining advanced automation with precision engineering, the company empowers manufacturers to enhance efficiency, accuracy, and overall production quality.
This financing aligns with a broader industry trend toward increased investment in medical technology innovation, especially in areas such as minimally invasive surgery, image-guided therapy, and AI-powered diagnostics.
Sheppard Mullin, DLA Piper, and Facilitated Growth served as advisors on the transaction.
KEY QUOTES:
“This financing marks a significant milestone for Epica. The capital infusion from Avenue Capital will empower us to strengthen our financial foundation, expand our market presence, and accelerate the development of groundbreaking technologies that will shape the future of medical imaging and robotics. We are thrilled to partner with Avenue Capital, a firm with a proven track record of supporting innovative companies.”
-Joe Soto, CEO of Epica International
“We are excited to partner with Epica International and support their mission to revolutionize medical imaging and robotics. Epica’s proprietary technology platforms and intellectual property portfolio position them for continued success in a rapidly growing market. We look forward to a long and fruitful partnership.”
-Chad Norman, Senior Portfolio Manager at Avenue Capital
