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Medical equipment industry

Avitar, Inc. Expands Relationship with Silicon Valley Bank

Strategic Insights

— 1 min read

Avitar, Inc., a leading healthcare products company, has announced an expanded relationship with Silicon Valley Bank, securing a revolving line of credit worth up to $350,000. This move is part of Avitar's program to obtain additional debt and equity capital, aimed at funding the company's continued growth, development, and expansion. The company's chairman and CEO, Peter Phildius, emphasized the importance of this credit line in providing access to working capital.

Key Takeaways:

  • Avitar, Inc. has expanded its relationship with Silicon Valley Bank, securing a revolving line of credit worth up to $350,000.
  • The credit line is intended to provide Avitar with access to working capital, supporting the company's continued growth and expansion.
  • The arrangement is part of Avitar's program to obtain additional debt and equity capital, aimed at funding the company's development and marketing efforts.
  • Avitar designs, develops, manufactures, and markets healthcare products and services, including proprietary wound care dressings and rapid diagnostic test products.
  • The company's chairman and CEO, Peter Phildius, highlighted the importance of this credit line in supporting the company's business growth.
  • Avitar has filed forward-looking statements with the Securities and Exchange Commission, which detail the company's potential risks and uncertainties.

Statistics:

  • Avitar's revolving line of credit is worth up to $350,000.
  • The company can borrow up to this amount to support its growth and expansion efforts.
  • Avitar's program to obtain additional debt and equity capital aims to support the company's development and marketing efforts.
  • The company's healthcare products and services include proprietary wound care dressings and rapid diagnostic test products.
  • Avitar has filed forward-looking statements with the Securities and Exchange Commission, dated 1995.

Sources:

  • "Avitar, Inc. (NASD OTC Bulletin Board:AVIT)(Common Stock) Announces Addition of Revolving Line of Credit with Silicon Valley Bank" (Business Wire, May 5, 1998)
  • Avitar, Inc.'s website: http://www.avitarinc.com (dated 1998)

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