OREANDA-NEWS.   GE Capital’s Healthcare Financial Services business announced today that it has agented a senior secured credit facility of up to USD 10 million to Cianna Medical, Inc. The funds will be used for additional working capital as Cianna Medical continues to expand its commercialization and product development efforts.

Founded in 2007 and based in Aliso Viejo, CA, Cianna Medical is a medical device company focused on the treatment of early-stage breast cancer. The company’s brachytherapy applicator, SAVI®, delivers post-lumpectomy partial breast radiation treatment to patients diagnosed with early-stage breast cancer.

"This financing strengthens our financial position for the continued commercialization of SAVI, both here in the U.S. and abroad, allowing us to fulfill our mission of making the benefits of breast brachytherapy available to more women," said Cianna Medical’s president and CEO Jill Anderson. “It also allows us to continue to selectively invest in our new product pipeline.”

“GE Capital’s knowledge of the healthcare industry and their support were key to successfully closing this transaction,” said Cianna Medical CFO Gordon H. Busenbark. “They provided us with a flexible lending structure that supports our needs as we continue to ramp up our product development and commercialization efforts.”

“As one of the most active capital providers in the U.S. healthcare market, we value our new relationship with Cianna Medical and look forward to supporting their financing needs as they continue to grow and evolve,” said Neil Bonnano, senior vice president of life sciences for GE Capital, Healthcare Financial Services.