American Capital pumps $66m into Avalon:
This article was originally published in Clinica
Avalon Laboratories, a privately-held supplier of cardiopulmonary vascular cannulae, has received a $66m investment from American Capital Strategies. The funds, which will be used to drive Avalon's growth, was provided in the form of a senior term loan, senior subordinated debt and convertible preferred and common equity. American Capital is also providing Rancho Dominguez, California-based Avalon with a revolving credit facility. Avalon claims to manufacture over a third of all cannulae used globally. Its products are used to link patients up with life support machines.
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