Xtant Medical had its credit facility with MidCap Financial raised from $8 million to $17 million, according to a March 7 news release.
The company's loan agreement was also updated to include an additional $10 million for acquisitions at MidCap's discretion. In 2023, Xtant Medical acquired hardware and biologics businesses.
"We are very pleased to increase our revolving credit facility with MidCap to support our fast pace of growth. As we execute on our four pillars of growth, we may require additional capital for inventory and other working capital needs," Sean Brown, Xtant Medical's CEO, said in the release.