Tele: 561.316.3330
Breaking Medical Device News

Thursday, September 23, 2021
HomeAerin Medical Inc.Aerin Medical Inc. Secures $50 Million Debt Facility

Aerin Medical Inc. Secures $50 Million Debt Facility

Aerin Medical, Inc. (“Aerin”), a medical technology company focused on improving the quality of life for patients suffering with nasal airway disorders through the development and commercialization of disruptive minimally-invasive treatments, announced that it closed on a $50 million non-dilutive term loan agreement with CRG LP, a healthcare focused investment firm.

Aerin received $35 million at closing and will receive an additional $15 million in two tranches upon achieving certain milestones. The Company used approximately $16.5 million of these proceeds to retire its existing debt. The remaining proceeds will be used to accelerate Aerin’s sales and marketing reach and to launch its next product.

Luke Düster, Partner of CRG, stated, “CRG is pleased to provide Aerin with an optimal financing structure that supports the Company’s growth initiatives for its proprietary Vivaer technology.”

Aerin MedicalKevin Reilly, Vice President of CRG added, “Aerin’s technology provides a safe, minimally invasive procedure that is proven to deliver strong patient outcomes. We are excited to partner with a Company and technology that has such a high patient satisfaction while delivering an ideal office-based treatment option for ENTs.”

Fred Dinger, Chief Executive Officer of Aerin Medical commented, “CRG is the ideal partner for Aerin giving us the right level of financing and structure to fuel our growth and should allow us to transition to becoming cash flow positive without the need for additional equity. CRG has provided the long-term capital that will enable us to expand our sales footprint, increase our marketing efforts and bolster our clinically proven product pipeline.”

Medical Device News Magazinehttps://infomeddnews.com
Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

Stay Connected

spot_img

Don't Miss

Kleiner Device Labs Receives FDA Market Clearance for KG2 Surge Flow-Thru Interbody System

The system maximizes total bone graft delivery volume, better distributes graft bilaterally into the intervertebral disc space, and streamlines the implant delivery, positioning, and grafting process for TLIF and PLIF spinal fusion procedures.

Matthew Cranfill New ExtriCARE USA Director Of Clinical Services

"Matt's impressive experience and skillset easily made him our top pick," said Peter Mason, President of ExtriCARE USA.

FDA Authorizes Software that Can Help Identify Prostate Cancer

The software is called Paige Prostate and is compatible for use with slide images that have been digitized using a scanner.

Shannon Lantzy MedCrypt New VP of Consulting

"I met Shannon at a healthcare-related event several years ago and was immediately impressed with her passion and drive to move healthcare into a digital future," said Mike Kijewski, CEO of MedCrypt.

Mark Foster Joins Xenocor BOD

Foster is a versatile and visionary C-Suite executive who brings 20 years of general management and leadership experience from both venture-backed growth-stage organizations and world-class medical device companies

Hinge Health Acquires the Most Advanced Computer Vision Technology for Tracking Human Motion

CEO Daniel Perez explained, “We won’t stop investing in technology to deliver the most patient-centered digital clinic that improves member experience and outcomes while reducing costs. wrnch allows us to take a giant leap forward in all respects.”

Dale W Wood Congratulates the Huma Team on Raising $130 Million

Major health and technology companies across the world have committed upwards of $130 million to Huma Therapeutics, the health-tech company backed by Dale Ventures.

Rhaeos Awarded $4 Million NIH SBIR Grant

Under the NIH SBIR grant, Rhaeos will leverage their existing wireless sensor hardware to provide additional quantitative flow data to the clinician, giving insight into this currently inaccessible and highly relevant shunt performance metric.

By using this website you agree to accept Medical Device News Magazine Privacy Policy