ViewRay, a Cleveland, Ohio-based maker of a clinical MRI-guided radiation therapy system, secured up to $50 million in debt financing.
CRG (formerly Capital Royalty L.P.), a premier healthcare investment firm, provides the financing.
This debt is part of ViewRay’s comprehensive financing strategy to optimize its capital structure and to provide the funding for driving its global expansion. Through the transaction with CRG, the company will initially access $30 million of debt, which is interest only for three years, enabling the company to accelerate the worldwide commercialization of the MRIdian system and to retire $13 million of debt with less favorable terms. ViewRay has the option to draw a further $20 million at its discretion upon achieving certain milestones.
Led by Chris A. Raanes, president and CEO, ViewRay is a medical device company developing advanced radiation therapy technology for the treatment of cancer. The MRIdian system provides continuous soft-tissue imaging during treatment, using MRI-guided radiation therapy, so that clinicians are able to see where the actual radiation dose is being delivered and adapt to changes in the patient’s anatomy.
FinSMEs
30/06/2015