Portable kidney dialysis machine maker
said it established a credit facility with
SVB Silicon Valley Bank
, the commercial banking arm of
SVB Financial Group
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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