Navigation Links
Cardiovascular Systems, Inc. Secures $40 Million Line of Credit from Silicon Valley Bank
Date:4/4/2017

ST. PAUL, Minn., April 4, 2017 /PRNewswire/ -- Cardiovascular Systems, Inc. (CSI) (NASDAQ: CSII), a medical device company developing and commercializing innovative solutions for treating peripheral and coronary vascular disease, has entered into a credit facility with Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors. This agreement provides CSI with up to $40 million for working capital and general corporate purposes.

"Adding this line of credit to our debt-free balance sheet strengthens our financial position and improves our flexibility," said Scott Ward, chairman, president and chief executive officer for CSI. "Silicon Valley Bank continues to be a key strategic partner for CSI as we seek to set the standard in safe, effective, economical medical devices that improve patient outcomes."

"We're pleased to provide this financing to CSI as the company drives important medical advancements for the large patient populations they serve," said Ben Johnson, managing director for Silicon Valley Bank. "Our aim is to provide the CSI team with the right financing, connections and services they need to meet their corporate objectives."

About Cardiovascular Systems, Inc.
Cardiovascular Systems, Inc., based in St. Paul, Minn., is a medical device company focused on developing and commercializing innovative solutions for treating vascular and coronary disease. The company's Orbital Atherectomy Systems treat calcified and fibrotic plaque in arterial vessels throughout the leg and heart in a few minutes of treatment time, and address many of the limitations associated with existing surgical, catheter and pharmacological treatment alternatives. The U.S. FDA granted the first 510(k) clearance for the use of the Orbital Atherectomy System in peripheral arteries in August 2007. In October 2013, the company received FDA approval for the Coronary Orbital Atherectomy System. To date, over 290,000 of CSI's devices have been sold to leading institutions across the United States.  For more information, visit the company's website at www.csi360.com.

About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.

The Life Science and Healthcare Division of Silicon Valley Bank delivers specialized solutions and market expertise in the areas of biopharma, medical device, tools and diagnostics, digital health and healthcare services, with a focus on helping companies move their bold ideas forward, fast. Learn more at svb.com/life-sciences-healthcare/.

©2017 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB).

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cardiovascular-systems-inc-secures-40-million-line-of-credit-from-silicon-valley-bank-300434026.html


'/>"/>
SOURCE Silicon Valley Bank
Copyright©2017 PR Newswire.
All rights reserved


Related medicine technology :

1. Akcea Initiates Phase 2 Study of AKCEA-APO(a)-L Rx in Patients with High Lp(a) and Cardiovascular Disease
2. The Top 250 Developers of In-Vitro Diagnostics Tests for Cancer, Cardiovascular & Infectious Diseases
3. Innovative Cardiovascular Solutions Announces Successful First Cases in European Clinical Study of EMBLOK Embolic Protection System
4. Cardiac Holter Monitor Market to Reach US$518.9 Million by 2024: Rising Cases of Cardiovascular Diseases due to Sedentary Lifestyles Augment Demand, Observes TMR
5. Global Markets for Emerging Medical Device Technologies - Cardiovascular, Orthopedic, Neurology, Diabetes & In Vitro Diagnostics Markets - Research and Markets
6. Digital X-Ray System Market - Forecasts from 2016 to 2021 - Growing Incidents of Cardiovascular, Orthopedic & Dental Disorders Around the Globe - Research and Markets
7. True Health Chief Academic Officer and Cardiovascular Disease Expert to Lecture Before Miami Beach Symposium
8. New Supplement Based on Nobel Prize-Winning Research Boosts Nitric Oxide for Cardiovascular Health
9. Cardiovascular Drug Delivery Report 2016-2017 & 2026: Technologies, Markets and Companies - 82 Companies & 80 Collaborations - Research and Markets
10. Sanifit Announces Enrollment of First Patient in CaLIPSO - a Phase IIb Study for the Treatment of Cardiovascular Calcification in End-Stage-Renal-Disease Patients on Haemodialsis
11. Site-Specific Drug Delivery Market, By Application (Pulmonary, Ocular, Oncology, CNS, Cardiovascular) - World Forecasts to 2022
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/5/2017)... Oct. 5, 2017  In response to the ... and Maxillofacial Surgeons (AAOMS) released prescribing recommendations that ... be used as a first-line therapy to manage ... Recognizing the value and ... Paper "Opioid Prescribing: Acute and Postoperative Pain Management" ...
(Date:10/4/2017)... , Oct. 4, 2017 OBP ... self-contained, illuminating medical devices, today announced regulatory approval ... Surveillance Agency (or Agência Nacional de Vigilância Sanitária ... single-use, cordless surgical retractor with integrated LED light ... access, illumination and exposure of a tissue pocket ...
(Date:10/2/2017)... 2017  AllianceRx Walgreens Prime, the combined central specialty ... pharmacy benefit manager Prime Therapeutics LLC (Prime), today officially ... the unveiling of new signage at its headquarters in ... at a few other company-owned facilities across the country. ... some of whom will begin to see the AllianceRx ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... 13, 2017 , ... “America On The Brink”: the Christian history of the ... is the creation of published author, William Nowers. Captain Nowers and his wife, ... he spent thirty years in the Navy. Following his career as a naval ...
(Date:10/12/2017)... ... October 12, 2017 , ... The ... demand of today’s consumer and regulatory authorities worldwide. From Children’s to Adults 50+, ... to meet the highest standard. , These products are also: Gluten Free, ...
(Date:10/12/2017)... ... 12, 2017 , ... Information about the technology: , Otomagnetics ... enable prevention of a major side effect of chemotherapy in children. Cisplatin and ... For cisplatin, hearing loss is FDA listed on-label as a dose limiting toxicity. ...
(Date:10/12/2017)... ... ... On Saturday, October 21, the Health & Wellness Center at Florida Hospital ... for the American Heart Association Heart Walk. Teams of up to 10 people can ... their treadmills moving for 5 hours. Treadmills will start at 7:00 p.m. on Saturday, ...
(Date:10/12/2017)... FL (PRWEB) , ... October 12, 2017 , ... ... presenting the latest in wound care advancements to physician colleagues, skilled nursing facility ... is titled, "Navigating the Treacherous Waters of Wound Care." , "At many of ...
Breaking Medicine News(10 mins):