iCAD Announces New Credit Facility with Bridge Bank, Increasing Operational Flexibility
(NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that it has entered into a credit facility with Bridge Bank, a division of Western Alliance Bank, effective March 30, 2020.
- (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that it has entered into a credit facility with Bridge Bank, a division of Western Alliance Bank, effective March 30, 2020.
- The line of credit has a two-year term and may be repaid and reborrowed at any time until its maturity date.
- We are pleased to obtain this new financing from Bridge Bank during this period of unprecedented economic impact from the global coronavirus pandemic, said Michael Klein, Chairman and CEO of iCAD.
- This new credit facility, and support from Bridge Bank, strengthens our balance sheet and provides us with additional operating flexibility.