NxStage Medical Gets Credit Line

It can borrow up to $20 million through 2007.
Publish date:

Portable kidney dialysis machine maker

NxStage Medical

(NXTM) - Get Report

said it established a credit facility with

SVB Silicon Valley Bank

, the commercial banking arm of

SVB Financial Group

(SIVB) - Get Report


This facility provides for borrowings of up to $20 million, with $8 million available at closing and an additional $12 million available through Dec. 31, 2007, subject to certain covenants.

"The credit line is a 24 month facility that will be used to provide additional working capital to finance installations of dialysis equipment in the field which will support our growth in the chronic market," the Lawrence, Mass.-based compny said. "We are pleased to establish a long-term relationship with Silicon Valley Bank, a respected and established provider of banking services to emerging companies."

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