GE Healthcare Financial Services Closes $3.3 Million Deal with BioStorage Technologies

GE Healthcare Financial Services has provided a $3.3 million lease line of credit to BioStorage Technologies (BST). The Indianapolis, IN.-based company is a worldwide leader in short-term and long-term biomaterials storage, sample management and cold chain logistics. They will use the loan to support additional BST capital acquisitions.

In the near future, BST plans to purchase additional walk-in and stand-alone freezer units, back-up generators, liquid nitrogen tanks and other equipment to meet growing customer demands. In addition, BST will continue to build out its information technology infrastructure and software development needs.

“Having a strategic partner like GE Healthcare Financial Services has given us the financial flexibility to grow and execute our vision for the future,” said F. John Mills, M.D., Ph.D., BST’s chairman and chief executive officer. “GE HFS’ focus on helping us solve our financing needs allows us to create a broader leadership position in the drug research and development market.”

“GE Healthcare Financial Services is very pleased to have entered into a long-term partnership with BioStorage Technologies and we are focused on providing financial services that help them grow,” said Anthony Storino, senior managing director for GE Healthcare Financial Services’ life science finance group. “Our industry expertise and financial strength enabled us to quickly structure a tailored financing solution that recognized BioStorage Technologies’ current position in the market and will grow with their business.”

About GE Healthcare Financial Services

GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over $16 billion of capital committed to the healthcare industry, GE Healthcare Financial Services offers a full range of capabilities from equipment financing and real estate financing to working capital lending, vendor programs, and practice acquisition financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians’ practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit http://www.gehealthcarefinance.com