Paragon 28 Enters Into $70 Million Credit Facility With MidCap Financial
DENVER, May 17, 2021 /PRNewswire/ — Paragon 28, Inc. a market leading orthopedic medical device company focused exclusively on the foot and ankle, today announced that the Company has entered into a credit facility with MidCap Financial (“MidCap”) providing Paragon 28 access up to $70 million in total credit.
“We are very pleased with this new credit facility and our relationship with MidCap, providing Paragon 28 access to flexible and cost-effective growth capital, which will further enable the Company to invest in strategic growth initiatives to improve foot and ankle patient outcomes,” said Albert DaCosta, Co-Founder and Chief Executive Officer, Paragon 28.
About Paragon 28, Inc.
Paragon 28, Inc. was established in 2010 to address the unmet and under-served needs of the foot and ankle community. From the onset, Paragon 28’s goal has been to re-invent the space of foot and ankle surgery. Through research and innovation, the company creates new and improved solutions to the challenges faced by foot and ankle specialists.
For more information, please visit www.paragon28.com
About MidCap Financial
MidCap Financial is a middle market focused specialty finance firm that was formed in 2008. As of December 31, 2020, MidCap Financial, and its subsidiaries, provides management or other services for over $29.8 billion of commitments, of which $5 billion is managed by MidCap Financial Services Capital Management, LLC, Midcap’s registered investment advisor.
MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc. pursuant to an investment management agreement. Apollo Global Management, Inc. is one of the world’s largest asset managers with approximately $455.0 billion of assets under management as of December 31, 2020. Loans made or arranged pursuant to a California Finance Lenders Law license.
Paragon 28 Contact:
Chief Financial Officer
SOURCE Paragon 28, Inc.