SCHAUMBURG, Ill., June 19 /PRNewswire/ -- Sagent Pharmaceuticals, Inc., a privately-held specialty pharmaceutical company, announced today that it has entered into a $15 million revolving credit facility with MidCap Financial LLC. Proceeds from the new facility will be used to support increasing working capital requirements and for general corporate purposes.
"Following closely on our recent $30 million Series A extension, this facility provides Sagent with non-dilutive capital and additional liquidity to support the company's significant upcoming product introductions and accelerated growth," said Ronald E. Pauli, Sagent's chief financial officer. "With a focus on middle-market lending in the healthcare space, MidCap Financial was ideally situated to provide an innovative deal structure tailored to Sagent's needs. We look forward to a long and productive partnership with MidCap."
About Sagent Pharmaceuticals, Inc.
Sagent Pharmaceuticals, founded in 2006, is a privately held specialty pharmaceutical company focused on developing, manufacturing, sourcing and marketing pharmaceutical products, with a specific emphasis on injectable products. Sagent has created a unique, global network of resources, comprised of rapid development capabilities, sophisticated manufacturing and innovative drug-delivery technologies, quickly yielding an extensive portfolio of pharmaceutical products that fulfills the evolving needs of patients. Sagent currently has more than 200 products in development.
To Discover Injectables Excellence(TM) and learn more about Sagent, please visit www.SagentPharma.com.
About MidCap Financial LLC
MidCap Financial is a commercial finance company focused on middle market lending in healthcare and other specialty vertical markets. MidCap specializes in middle market loans in the $10 million to $200 million range. Its principal officers are all veterans of the healthcare finance industry, having worked together at three healthcare finance companies previously. The company is headquartered in Bethesda, MD, with offices in Chicago and Los Angeles. Additional information about MidCap Financial can be found at www.midcapfinancial.com.
|SOURCE Sagent Pharmaceuticals, Inc.|
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