Image-guided radiotherapy developer ViewRay has arranged to receive up to $50 million in debt financing from healthcare investment firm CRG.
ViewRay said it will initially access $30 million to accelerate the worldwide commercialization of its MRIdian MRI-guided radiation therapy system and to retire $13 million of debt with less favorable terms. The new debt is interest-only for three years, according to the vendor.
The firm will have an option to draw an additional $20 million at its discretion upon achieving certain milestones. The debt financing is part of ViewRay's financing strategy to optimize its capital structure and to provide funding for global expansion, the company said.
