Gemino Healthcare Finance provided a secured revolving line of credit to OMNI Orthopaedics, according to an ABL Advisor report.
Here are five things to know about the transaction:
1. The East Tauton, Mass.-based OMNI Orthopaedics received $6 million secured revolving line of credit from Gemino. The orthopedic implant company was founded in 1999 and focuses on high quality orthopedic implants and technology.
2. The proceeds from the line of credit will be used for working capital purposes.
3. OMNI focuses on total knee and hip replacement procedures, and offers a robotic-assisted total knee system.
4. OMNI hopes the financing will fund key growth initiatives as well as expand the company's product portfolio.
5. The company's proprietary technologies are designed for hospitals and physicians to demonstrate quality measures in total joint replacements.