Cheetah Medical Partners with SWK Funding LLC to Advance Commercial Operations

NEWTON, Mass.–(BUSINESS WIRE)–Cheetah Medical, Inc., a Massachusetts-based leader in non-invasive
fluid management devices, today announced it has entered into a $20
million senior secured term loan agreement with SWK Funding LLC. SWK
Funding LLC is a subsidiary of SWK Holdings Corporation, a Dallas,
Texas-based healthcare focused investment firm. Cheetah will use the
loan proceeds to retire existing debt and to invest in its sales and
marketing efforts in the U.S. $18 million of the loan was funded at
closing with another $2 million available in Q1 of 2019 subject to
milestones.

“We are pleased to be working with the team at SWK and their approach to
partnering with companies like Cheetah. They impressed us with their
insightful questions during diligence and their shared confidence in
Cheetah’s prospects in developing this very exciting market,” commented
Kevin McArdle, Chief Financial Officer of Cheetah Medical. “We look
forward to our continued collaboration with SWK as we work to become
standard of care in the management of critically ill patients worldwide.
The capital secured through this agreement will provide crucial support
to our Sales, Marketing and Clinical efforts.”

“SWK is pleased to partner with Cheetah to provide minimally dilutive,
flexible capital to help the Company grow its highly innovative
hemodynamic monitoring solution,” commented Winston Black, CEO of SWK.
“We believe the Starling SV gives clinicians real-time data needed to
guide patient fluid management decisions, which further provides
substantial economic benefits to the healthcare system. We are
particularly impressed with the Company’s ability to improve the care
and outcomes of patients suffering from sepsis, a deadly condition that
costs the healthcare system considerable financial resources.”

About Cheetah Medical
Cheetah
Medical is the pioneer and leading global provider of 100 percent
non-invasive fluid management monitoring technologies, designed for use
in critical care, operating room and emergency department settings. The
CHEETAH Starling™ SV is fast becoming the gold standard in fluid
management, as it provides immediate, dynamic assessments of fluid
responsiveness, enabling clinicians to make more confident and informed
treatment for their patients. Moreover, recent research from the
University of Kansas Medical Center has shown effective fluid management
can reduce hospital ICU stays by an average of 2.89 days, reduce risk of
mechanical ventilation and initiation of acute dialysis, saving over
$14,000 in medical costs per patient. The company’s fluid management
systems currently make an impact in more than 400 hospitals throughout
the U.S. and in 30 countries worldwide.

About SWK Holdings Corporation
SWK
Holdings Corporation (SWKH.OB) is a specialized finance company with a
focus on the global healthcare sector. SWK partners with ethical product
marketers and royalty holders to provide flexible financing solutions at
an attractive cost of capital to create long-term value for both SWK’s
business partners and its investors. SWK believes its financing
structures achieve an optimal partnership for companies, institutions
and inventors seeking capital for expansion or capital and estate
planning by allowing its partners to monetize future cash flow with
minimal dilution to their equity stakes. Additional information is
available on the company’s website at www.swkhold.com.

Cautionary Statement Regarding Forward-Looking
Statements

This press release contains forward-looking
statements, as that term is defined in the Private Litigation Reform Act
of 1995, that involve significant risks and uncertainties, including
statements regarding the marketing campaign in Southern California to
expand outside Southern California. Forward-looking statements can be
identified through the use of words such as “anticipates,” “expects,”
“intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,”
“should,” and variations of these words or similar expressions. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which reflect BIOLASE’s current expectations and speak only
as of the date of this release. Actual results may differ materially
from BIOLASE’s current expectations depending upon a number of factors.
These factors include, among others, adverse changes in general economic
and market conditions, competitive factors including but not limited to
pricing pressures and new product introductions, uncertainty of customer
acceptance of new product offerings and market changes, risks associated
with managing the growth of the business, and those other risks and
uncertainties that are described in the “Risk Factors” section of
BIOLASE’s annual report on Form 10-K filed with the Securities and
Exchange Commission. Except as required by law, BIOLASE does not
undertake any responsibility to revise or update any forward-looking
statements.

Contacts

Maayan Wenderow
Cheetah Medical
(617) 964-0663
maayan@cheetah-medical.com

Melissa Baron
JPA Health Communications
(617) 657-1312
mbaron@jpa.com

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