Loan Facility Paves Way for Inlog Closing by End of Month
DENVER, June 20 /PRNewswire-FirstCall/ -- Global Med Technologies(R), Inc. ("Global Med" or the "Company") (OTC Bulletin Board: GLOB), an international e-Health, medical information technology company, today announced it has secured a $6 million credit facility from Silicon Valley Bank (SVB), a leading provider of diversified financial services to companies in the technology, life science, private equity and premium wine industries. The capital will be used to complete its acquisition of Inlog, SA, Inlog, SAS, and its German subsidiary ("Inlog"), a private European medical software firm.
Chairman and CEO of Global Med Technologies, Inc., Michael I. Ruxin, M.D., stated, "We are very pleased that Silicon Valley Bank has worked closely with us to facilitate this loan so quickly. SVB's unique understanding of emerging growth and established technology companies made the transaction process very smooth. Its focus on specialized markets and extensive knowledge of the people and business issues driving them provide a level of service and partnership we looked for in a financial institution." Dr. Ruxin continued, "Global Med is looking forward to completing the Inlog acquisition and realizing our ability to provide products and services that contribute to world health on a global scale."
"Silicon Valley Bank is proud to be Global Med's financial partner," said Ryan Incorvaia of Silicon Valley Bank's Colorado office. "We're pleased we can provide the company the resources it needs to execute its global strategy."
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|SOURCE Global Med Technologies, Inc.|
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