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BETHESDA, Md., Jul 09, 2012 (BUSINESS WIRE) --
GE Capital, Healthcare Financial Services announced today that it is
administrative agent on a $100 million senior secured credit facility
for Affymetrix, Inc. The financing is being used to help fund the
acquisition of eBioscience, Inc. The financing consists of an $85
million term loan and a $15 million revolving credit facility. GE
Capital Markets served as joint lead arranger and joint book runner on
the facility.
Headquartered in Santa Clara, CA, Affymetrix creates breakthrough tools
used primarily in genotyping and gene expression applications. By
applying the principles of semiconductor technology to life sciences,
Affymetrix develops and commercializes systems that enable scientists to
improve quality of life.
"GE's knowledge of the industry and support were key to successfully
closing this financing," said Tim Barabe, chief financial officer of
Affymetrix. "We valued having a flexible lender who was willing to work
with us throughout the acquisition process and had deep knowledge of
eBioscience."
"We are pleased to support Affymetrix and their growth objectives as
they acquire eBioscience," said David Varhol, managing director of
Corporate Finance at GE Capital, Healthcare Financial Services. "Having
a team solely dedicated to healthcare allows us to structure tailored
financing solutions to meet our customers' evolving needs."
About GE Capital, Healthcare Financial Services
With in-depth industry knowledge and expertise, GE Capital, Healthcare
Financial Services has provided more than $60 billion in financing over
ten years to companies in over 40 healthcare sectors including senior
housing, hospitals, medical offices, outpatient services,
pharmaceuticals and medical devices. Our team of professionals creates
business and financial solutions tailored to meet the individual needs
of our customers. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit
www.gecapital.com
or follow company news via Twitter (@GECapital).
GE
(NYSE:GE)
works on things that matter. The best people and the best
technologies taking on the toughest challenges. Finding solutions in
energy, health and home, transportation and finance. For more
information, visit the company's website at
www.ge.com .
SOURCE: GE Capital, Healthcare Financial Services
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