Treace Medical Concepts, Inc. (“Treace” or the “Company”) (Nasdaq: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of hallux valgus (commonly known as bunions), today announced that it has entered into a new five-year $150 million loan arrangement with MidCap Financial, comprising up to $120 million in term loans and a $30 million revolving credit facility. Proceeds from the new term loan refinanced the Company’s existing $30 million term loan from CR Group LP. In addition, the new revolving credit facility will expand the Company’s revolving credit capacity and replace the undrawn existing $10 million revolving credit facility from Silicon Valley Bank.
Company Information
Company
Treace
Location
Ponte Vedra, Florida, United States
About
Treace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion deformities and related midfoot correction. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 65 million Americans1, of which Treace estimates 1.1 million are annual surgical candidates. Treace Medical has pioneered and patented the Lapiplasty® 3D Bunion Correction™ system – a combination of instruments, implants, and surgical methods designed to surgically correct all 3 planes of the bunion deformity and secure the unstable joint, addressing the root cause2,3 of the bunion and helping patients get back to their active lifestyles. Treace Medical has expanded its offering with the Adductoplasty™ Midfoot Correction System, designed for reproducible surgical correction of the midfoot to provide further support to hallux valgus patients.
Fundz sees it the moment Treace raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Ponte VedraManufacturingBiotechnologyHealthcareHealth CareMedicalMedical Device