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Medin Technologies and AMT Medical, U.S. manufacturers of orthopedic cases, trays, implants and instruments, completed a successful refinancing, establishing a more robust capital structure with resources for continued expansion and growth.
The companies have access to a new credit facility, providing an additional $4.5 million in committed but undrawn capital. Funds from the refinancing will be used to reduce existing debt and invest in infrastructure to optimize product development.
“This refinancing is a significant milestone for Medin Technologies and AMT Medical, and reflective of how far the companies have advanced in the past year,” said Bill Donaldson, Chief Executive Officer. “We have been focused on upgrading the companies’ financial reporting structures, improving operational efficiency through the application of lean manufacturing principles, and bringing leadership on board to maximize current and potential market opportunities. The favorable terms in this refinancing underscore Medin and AMT’s achievements, as well as the effectiveness of Seven Point’s approach to transforming businesses with long-term growth potential.”
Since the companies’ refinancing, both Medin Technologies and AMT Medical have strengthened the leadership teams and implemented Lean Manufacturing principles throughout the organization. The resulting improvement in operational processes has positively impacted both companies’ customers and provides a strong foundation for continued growth. Medin’s holding company acquired AMT Medical in June 2019.
