BETHESDA, MD – July 9, 2012 — 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.