WEST CHESTER, PA — Centinel Spine®, LLC has announced the closing of a senior secured loan agreement with credit funds managed by SLR Capital Partners, LLC. The agreement provides $60 million in capital at closing, with an additional $10 million available for future use. The proceeds from the initial funding will be utilized to refinance Centinel Spine’s existing credit facility, cover fees and expenses, and serve as working capital to fuel the company’s ongoing growth.
Centinel Spine CFO Varun Gandhi emphasized the significance of the deal, stating, “We are very pleased with the outcome of this refinancing transaction with SLR. This upsized facility with favorable terms provides Centinel Spine with greater flexibility to continue to invest in the growth of its business. The Company has made meaningful progress with its motion preservation business—with revenues more than doubling from 2022 to 2024, along with 7 quarters of adjusted EBITDA positive performance. We are pleased that our partner, SLR, believes in our strategy and ability to execute and is willing to further support our growing enterprise.”
The company has seen significant momentum in the total disc replacement market, driven by its Match-the-Disc™ platform for cervical and lumbar motion preservation. The platform aims to replicate the natural disc’s anatomy and function, and its growing adoption by surgeons has contributed to Centinel Spine’s strong financial performance in 2024.
“SLR is excited to leverage our investment expertise in the life science sector by partnering with Centinel Spine to support their development and commercialization efforts in treating cervical and lumbar spine disease with their total disc replacement technology platform,” said Anthony Storino, Partner and Head of Life Science Finance at SLR Capital Partners.
Centinel Spine’s CEO Steve Murray highlighted the impact of the refinancing on the company’s strategic goals, commenting, “Our Match-the-Disc™ portfolio for cervical and lumbar motion preservation is clearly resonating with the surgeon community, as evidenced by our strong 4Q and FY 2024 results. This refinancing will position the Company to continue to drive expanded portfolio differentiation, long-term profitable sales, and deliver on our mission to be the leading total disc replacement company in the world.”
With the support of SLR Capital Partners, Centinel Spine is well-positioned to continue its growth trajectory and reinforce its commitment to advancing motion preservation technologies that improve patient outcomes.
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