Cardiva Medical, Inc., a Sunnyvale, CA-based medical device company, received $12.5m in debt financing.
The financing, agented by GE Capital’s Healthcare Financial Services business, included a $10m term loan and a $2.5m asset-based revolving loan.
The company intends to use the funds for working capital as the company continues to ramp up the commercialization product line.
Founded in 2002 and led by Charles Maroney, CEO, Cardiva Medical of vascular closure technology to help the body heal itself following catheterization procedures. It offers a vascular closure product line, which includes Cardiva Catalyst® and VASCADE® (approved by the FDA in 2013, and approved for CE marking in 2012).