Oxford Finance and Silicon Valley Bank closed a $45 million term loan to Plano, Texas-based Nuvectra, according to ABL Advisor.
Here are four takeaways:
1. Nuvectra is a medical device company developing a neurostimulation technology platform for chronic pain treatment.
2. The company's main product, Algovita, is a spinal cord stimulation system.
3. The funds will help Nuvectra introduce Algovita to the U.S. market.
4. The credit facility includes a $40 million senior secured term loan and a $5 million line of credit.