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Wingspire Equipment Finance Provides $35MM in Equipment Financing to Medical Technology Company

November 07, 2024, 08:05 AM
Filed Under: Medical

Wingspire Equipment Finance announced a $35 million equipment financing deal with a top sponsor-backed medical technology company. This client aims to transform the filling and finishing process for sterile liquid medicines and vaccines. The financing will enable the purchase of several custom Blow-Fill-Seal (BFS) machines, significantly boosting production capacity.

The medical technology company specializes in helping pharmaceutical manufacturers design rapidly scalable, cost-efficient drug delivery systems. The company recently made monumental innovations in its prefilled injection devices, reducing costs by nearly 50%. This advancement had drawn the interest of multiple domestic and foreign investment banks. With timing being critical, the company sought to curb equity investment and assume more cost-effective debt. Wingspire Equipment Finance's capital lease structure was their most attractive solution.

The finance structure will support the acquisition of specialized equipment integral to the company’s prefilled drug delivery systems. The new BFS machines are designed to improve unit production output, consolidate operations into fewer facilities, reduce the company's carbon footprint, and lower transportation costs.

"Timing was critical for the client," said Mark Ellis, Vice President of Originations at Wingspire Equipment Finance. "By understanding our client's specific capital structure needs, we delivered a tailored financing package that addressed their immediate challenges while providing the flexibility to support their future growth. Our solution met their current needs and set them up for continued production expansion into 2025."

For more equipment finance and leasing industry news, visit Equipment Finance Advisor.







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