SANTA BARBARA, Calif.– Establishment Labs Holdings Inc. (NASDAQ: ESTA), a medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, today announced that it has entered into a $225 million term loan financing facility with funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
“After a competitive process, we could not be more pleased to enter into this long-term strategic partnership with Oaktree,” said Raj Denhoy, Chief Financial Officer of Establishment Labs. “This is a pivotal moment for Establishment Labs, as this financing can fully fund our business to cash flow positive. This includes financing our prospective market launches in the United States and China, our product launches around the world — most notably MIA and Flora — and the construction of our new facility that will allow us to meet more than half the current world market’s demand for breast implants.”
“Establishment Labs has grown tremendously since the company’s founding over a decade ago and has cemented its position as a leader in the women’s health space, with a deep focus on breast aesthetics and reconstruction,” said Aman Kumar, Co-Portfolio Manager of Life Sciences Lending at Oaktree. “We are impressed with the long-term real-world safety profile of the Motiva implants, which are backed by the company’s state-of-the-art manufacturing and scientific processes. Oaktree is very excited to partner with the company during its next phase of anticipated growth as it seeks to enter the United States market, while continuing to expand its product offerings to women worldwide.”
