GE Capital's Healtcare Financial Services, a division of General Electric Company (GE), recently augmented the liquidity of GenMark Diagnostics, Inc. (GNMK) by serving as an administrative agent on a senior secured credit facility of $40 million.
GenMark develops and commercializes its proprietary eSensor detection technology to diagnose diseases and optimize patient treatment. The company is expected to benefit from new innovations, more decentralized laboratory testing in personalized medicine, which is likely to reduce both time and costs associated with the treatment of patients.
GenMark is likely to utilize the credit facility to seek both organic and inorganic growth opportunities. The funds will be used to provide additional working capital as the company launches its sample-to-answer ePlex system globally. The financing further increases its financial flexibility and supports its domestic and international product launches with continuous research and development initiatives.
GE Capital’s Healthcare Financial Services provided more than $10.5 billion in financing to diverse companies in 2014. General Electric, the parent company, is one of the largest and most diversified technology and financial services corporations in the world. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and industrial products. Its segments include Power & Water, Oil & Gas, Energy Management, Aviation, Healthcare, Transportation, Home & Business Solutions and GE Capital.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look include Northrop Grumman Corporation (NOC) and General Dynamics Corporation (GD), both carrying a Zacks Rank #2 (Buy).
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