MidCap Business Credit announced that it has completed a $3 million Asset Based Credit Facility to Medin Technologies, Inc. Headquartered in Totowa, NJ, Medin is a manufacturer of sterilization cases and trays for the medical device and instrument industry.

The opportunity was sourced and closed out of MidCap’s headquarters in West Hartford, CT.  

Seth Cooper, Senior Vice President & National Sales Manager of MidCap Business Credit, LLC, said, "We were able to quickly and efficiently provide a flexible Asset Based Line of Credit and Capital Expenditures Line to support Medin’s growth plans.  It was a pleasure working with Seven Point Equity Partners, LLC, Medin’s controlling shareholder, and the team at Medin to put a credit facility in place that will provide the liquidity they need to achieve their goals”.

Mark Kammert, a Partner at Seven Point, stated “We appreciated MidCap’s quick underwriting process, speed of documentation, and flexibility in dealing with the typical closing issues of middle market companies.  We look forward to a great relationship with MidCap in the future.”