GE Capital, Healthcare Financial Services, an operating unit of the General Electric Company (GE - Free Report) , recently acted as an administrative agent to close a senior credit facility worth $21.5 million for Amedica Corporation. The transaction will increase the liquidity of Amedica and facilitate its working capital requirements to fuel its growth engine.
With its headquarters in Salt Lake City, Amedica is an ISO -13485 certified spine and orthopedic implant and device manufacturing and distribution company, offering a diverse portfolio of advanced surgical applications. Amedica has the unique distinction of being the only company in the world to have the FDA clearance to manufacture and distribute implants with Silicon Nitride – a patented platform technology for spinal and arthroplasty applications.
Silicon Nitride implants are medically proven to have greater efficacy than PEEK (Polyether ether ketone) and titanium devices with superior biocompatibility and long term durability. Such technologically advanced medical devices would entail aggressive commercialization efforts for wide awareness among spine specialists to increase its adoption for spinal surgeries, thereby benefiting the patients in the long run. The debt financing by General Electric is expected to work a long way in this endeavor.
General Electric is one of the largest and the most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content and industrial products, it serves customers in more than 100 countries and employs more than 287,000 people worldwide.
Its segments include Energy Infrastructure, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital, Healthcare Financial Services. With more than $60 billion in financing over ten years to various companies in the healthcare sector, GE Capital, Healthcare Financial Services possesses an in-depth industry know-how and expertise.
General Electric currently has a Zacks Rank #4 (Sell). We have a long-term Neutral recommendation on the stock. We also have a Neutral recommendation and a Zacks Rank #3 (Hold) for 3M Company (MMM - Free Report) , one of the peers of General Electric.