Percutaneous Mitral Valve Device Gains $5 Million in Funding

July 20, 2010 — A $5 million loan was granted for the development of a new percutaneous mitral valve repair device.

GE Capital Healthcare Financial Services announced this week it lent Mitralign Inc. a $5 million senior secured credit facility for working capital. Mitralign is developing an innovative, catheter-based method to effectively treat mitral regurgitation in patients suffering from congestive heart failure, combining surgical precision with interventional therapy.

Anthony Storino, senior managing director, life sciences, for GE Capital Healthcare Financial Services, said Mitralign’s work is a significant development.

“This new facility will help Mitralign invest in their existing businesses and support further advancement of their mitral valve repair device, which we believe will be an important development in the treatment of mitral regurgitation in patients suffering from congestive heart failure,” Storino said. “Our industry expertise enables us to provide Mitralign with the best financing solution to meet their overall business objectives.”

For more information: www.gehealthcarefinance.com