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Vapotherm to Get $52M Growth Capital

Published Tuesday Oct 27, 2020

Vapotherm to Get $52M Growth Capital

CIBC Innovation Banking is providing $52 million in growth capital financing to Exeter-based Vapotherm, a global medical technology company focused on the development and commercialization of its proprietary high-velocity therapy, which is used to treat patients of all ages suffering from respiratory distress.

Vapotherm will use the funding to repay its existing revolving loan facility and term loan facility. The agreement provides Vapotherm with a term loan of $40 million, which matures five years from closing, and a revolving line of credit of up to $12 million.

"We are pleased to announce this debt refinancing with CIBC Innovation Banking, a leading financial institution in the health care space," said John Landry, Sr. VP and CFO of Vapotherm. "This financing provides us with incremental flexibility in order to continue to grow the business while reducing our weighted average cost of capital.”

“Vapotherm is an innovator in the respiratory care space and its technology allows health care providers to quickly and safely help a wide array of patients,” said Jeff Chapman, a managing director at CIBC.

 

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