Horizon Technology Finance has provided Bioness Medical with a $15 million senior credit facility, including $10 million funded at closing and up to an additional $5 million available to support continued growth.
Horizon Technology Finance is an affiliate of Monroe Capital.
Bioness develops and commercializes FDA-approved neurorehabilitation technologies intended to improve mobility and function for people recovering from stroke, spinal cord injury and other neurological conditions.
Backed by Accelmed Partners, Bioness provides clinically validated technologies used across hospital, outpatient and home-based care environments.
Its portfolio spans functional electrical stimulation, robotic gait training and neuromodulation products for clinicians, patients and healthcare systems.
Bioness plans to use the additional capital and financial flexibility to continue investing in innovation, expand its product portfolio and support further growth.
KEY QUOTES:
“Providing flexible growth capital to innovative companies with proven business models and strong market positions is a core focus of Horizon’s venture lending platform. Our team has extensive experience partnering with healthcare and life sciences companies and delivering tailored financing solutions that help management teams execute on their growth objectives. Bioness is representative of the high-quality businesses we seek to support, and we are pleased to add another leading healthcare technology company to Horizon’s portfolio. We look forward to continuing to deploy capital in support of innovative companies across our target markets.”
Paul Seitz, Chief Investment Officer of Horizon Technology Finance
“Horizon’s deep understanding of the life sciences sector and ability to structure a financing solution tailored to our needs made them an attractive partner. This facility provides additional capital and flexibility as we continue investing in innovation, expanding our product portfolio and serving patients and healthcare providers around the world.”
Todd Cushman, Co-Founder and Chief Executive Officer of Bioness Medical
