Medin Technologies and AMT Medical Complete Refinancing

Medin Technologies and AMT Medical, independent manufacturers of orthopedic cases, trays, implants and instruments in the United States, have announced the completion of a successful refinancing, establishing a more robust capital structure with resources for continued expansion and growth.
 
Under the terms of the refinancing, Medin Technologies and AMT Medical have access to a new credit facility, providing an additional $4.5 million in committed but undrawn capital. Funds from the refinancing will be used to reduce existing debt and invest in infrastructure to optimize product development.  
 
“This refinancing is a significant milestone for Medin Technologies and AMT Medical, and reflective of how far the companies have advanced in the past year,” said Bill Donaldson, CEO. “We have been focused on upgrading the companies’ financial reporting structures, improving operational efficiency through the application of lean manufacturing principles, and bringing leadership on board to maximize current and potential market opportunities. The favorable terms in this refinancing underscore Medin and AMT’s achievements, as well as the effectiveness of Seven Point’s approach to transforming businesses with long-term growth potential.”  
 
Since the companies’ refinancing, both Medin Technologies and AMT Medical have strengthened the leadership teams and implemented Lean Manufacturing principles throughout the organization. The resulting improvement in operational processes has positively impacted both companies’ customers and provides a strong foundation for continued growth. Medin’s holding company acquired AMT Medical in June 2019.
 
“We are leveraging a combined asset base to provide continued growth and facilitate business process transformation that provides value to our customers. As a process-oriented company, we are continually evolving our methods to provide world-class quality and performance across multiple product and component lines as a full-service manufacturing partner to our customers,” added Donaldson.
 
“This milestone underscores our proven approach to investing in and providing resources to our businesses over a long-term investment horizon,” said Tom Burchill, managing partner of Seven Point Equity Partners. “By transforming Medin Technologies and AMT Medical operationally and positioning the companies to have far greater financial flexibility than they’ve ever had before, we are making substantial progress in creating a world-class medical contract manufacturing enterprise.”