Centinel Spine® Refinances Existing Senior Secured Term Loan Facility with SLR Capital Partners
- Editor
- Feb 26
- 2 min read
Whats Happening:
Centinel Spine, a leading medical device company focused on cervical and lumbar spinal disease treatment, has secured a $60 million senior secured loan agreement with SLR Capital Partners. The deal includes an option to draw down an additional $10 million. This refinancing provides Centinel Spine with greater financial flexibility to invest in its growth, particularly in its motion preservation business, which has seen significant expansion in recent years.
Key Moves:
Centinel Spine secures $60M loan from SLR Capital Partners
Option to draw additional $10M included in the agreement
Funds to be used for debt refinancing and working capital
By The Numbers:
Motion preservation business revenues more than doubled from 2022 to 2024
Company achieved 7 consecutive quarters of adjusted EBITDA positive performance
Centinel Spine's prodisc technology validated by over 540 published papers
Key Quotes:
"We are very pleased with the outcome of this refinancing transaction with SLR. This upsized facility with favorable terms provides Centinel Spine with greater flexibility to continue to invest in the growth of its business," - Varun Gandhi, Centinel Spine CFO
"SLR is excited to leverage our investment expertise in the life science sector by partnering with Centinel Spine to support their development and commercialization efforts," - Anthony Storino, Partner and Head of Life Science Finance at SLR Capital Partners
"This refinancing will position the Company to continue to drive expanded portfolio differentiation, long-term profitable sales, and deliver on our mission to be the leading total disc replacement company in the world," - Steve Murray, Centinel Spine CEO
Bottom Line:
Centinel Spine's successful refinancing with SLR Capital Partners demonstrates the company's strong growth trajectory and market position in the spinal disease treatment sector. The new loan facility provides increased financial flexibility, allowing Centinel Spine to further invest in its innovative total disc replacement technology and expand its market presence. This move positions the company for continued growth and solidifies its aim to become the world's leading total disc replacement company.
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