Navigation Links
NxStage(R) Secures $15 Million Revolving Line of Credit
Date:3/11/2010

LAWRENCE, Mass., March 11 /PRNewswire-FirstCall/ -- NxStage Medical, Inc. (Nasdaq: NXTM) a leading manufacturer of innovative dialysis products, today announced that it has secured a two-year $15 million revolving line of credit from Silicon Valley Bank (SVB).  

The revolving line of credit is subject to a borrowing base of trade accounts receivable, inventory and field equipment and is secured by substantially all of the Company's assets.  In connection with this Agreement, the Company amended its term loan and security agreement with Asahi to grant Asahi junior liens on certain of the Company's assets.  Borrowings under the Agreement bear interest at a rate per annum equal to two percentage points (2.00%) above the prime rate (initial prime rate of 4%).  

"This new credit facility provides additional financial flexibility at favorable interest rates to finance working capital needs as the business continues to grow and to seize future opportunities, when they arise," stated Robert Brown, Chief Financial Officer of NxStage Medical. "We remain confident in our ability to achieve break-even adjusted EBITDA in the second quarter of 2010 and positive cash flow thereafter."

About NxStage Medical

NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company, headquartered in Lawrence, Massachusetts, USA, that develops, manufactures and markets innovative products for the treatment of end-stage renal disease (ESRD) and acute kidney failure. For more information on NxStage and its products, please visit the company's website at http://www.nxstage.com.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements.  Examples of these forward-looking statements include statements as to improvements in Adjusted EBITDA, cash flow and anticipated growth opportunities. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond NxStage's control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance or achievements, including market acceptance and demand for NxStage's product, and certain other factors that may affect future operating results and which are detailed in NxStage's filings with the Securities and Exchange Commission, including the Quarterly Report on Form 10-Q for the quarter ended September 30, 2009. In addition, the statements in this press release represent NxStage's expectations and beliefs as of the date of this press release. NxStage anticipates that subsequent events and developments may cause these expectations and beliefs to change. However, while NxStage may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing NxStage's expectations or beliefs as of any date subsequent to the date of this press release.

    
    
    Contact:
    Kristen K. Sheppard, Esq.
    VP, Investor Relations
    ksheppard@nxstage.com

SOURCE NxStage Medical, Inc.

Back to top

RELATED LINKS
http://www.nxstage.com

'/>"/>

SOURCE NxStage Medical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. NxStage(R) and Nordic Medcom Sign Distribution Agreement for the System One(TM)
2. Group of NxStage(R) Home Hemodialysis Patients to Take Caribbean Cruise with the System One(TM)
3. NxStage(R) Reports Third Quarter 2009 Financial Results and Raises Revenue Guidance for Fiscal 2009
4. NxStage(R) Reports Significant Interim FREEDOM Study Results
5. NxStage(R) to Report Third Quarter 2009 Financial Results
6. Boston Business Journal Names NxStage(R) Medical Third Fastest Growing Company in Massachusetts
7. NxStage(R) to Recognize Several Key Milestones at American Society of Nephrologys Renal Week 2007
8. TransMedics, Inc. Secures $36 Million Round of Financing Lead by Foundation Capital and Kleiner Perkins Caufield & Byers
9. Poniard Pharmaceuticals Secures $20 Million Committed Equity Financing Facility
10. EnzySurge, Maker of DermaStream(R) Secures US$2.5 Million in Private Capital
11. HealthWarehouse.com, Inc. Secures $1 Million in Debt Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... Biotechnology Inc., spurred by a major "team investment" by Bruce Montgomery , one of this ... A-Round, according to CEO Leen Kawas , PhD. ... ... ... Kawas said the round was intended ...
(Date:2/11/2016)... SAN JOSE, Calif. , Feb. 11, 2016 ... that pioneered the use of the iFuse Implant ... for fusion for certain disorders of the sacroiliac ... studies showing the cost benefits of MIS SI ... joint dysfunction due to degenerative sacroiliitis or SI ...
(Date:2/11/2016)... 11, 2016  AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX ... made at the 38th annual John A. Boswick ... which is being held February 14-18, 2016 in ... latest advancements in wound healing, burn care, and infection ... Australian-New Zealand Burns Association, Academy of Physicians in Wound ...
Breaking Medicine Technology:
(Date:2/11/2016)... ... February 11, 2016 , ... Greenfield Insurance ... program created to assist the people of their local community. The agency pledges ... and community leaders. Their hope is to bring awareness to important local causes ...
(Date:2/11/2016)... ... February 11, 2016 , ... ... Village Family Practice , will be presenting at the 2016 HIMSS Annual Conference ... Nev. , During his session, “ Coding for Care: Using Data Analytics ...
(Date:2/11/2016)... ... 2016 , ... The annual list showcases the 20 Most Promising SharePoint Solution ... dedication and commitment to the SharePoint ecosystem. A panel of experts and members of ... to recognize and promote technology entrepreneurship. , The survey was made at the ...
(Date:2/11/2016)... ... February 11, 2016 , ... From March ... Academy of Dermatology Annual Meeting at the Walter E. Washington Convention Center in ... for both the condition of hyperhidrosis (excessive sweating) and its treatment options. Specifically, ...
(Date:2/11/2016)... ... February 11, 2016 , ... Food ... engaged in health and wellness best practices in the past couple of decades, ... February is American Heart Month, which acts as an exceptional opportunity to revise ...
Breaking Medicine News(10 mins):