ALEXANDRIA, Va., April 15, 2014 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that a $15 million round of financing was provided to RF Surgical Systems, Inc. Proceeds of the loan will be used for working capital, as well as developing and marketing additional applications for the company's RF Assure Detection System™.
"RF Surgical Systems has developed a highly valued and widely used sponge detection product that protects patients undergoing surgical procedures," said Christopher A. Herr, managing director for Oxford Finance. "The company has been extremely successful with its RF Assure Detection System™, and Oxford is pleased to provide financing to support the worldwide deployment of this groundbreaking technology."
"RF Surgical has excelled at establishing an industry-leading technology that provides automatic, highly reliable, in-vivo detection capability to help prevent retained surgical sponges," said John T. Buhler, president and chief executive officer of RF Surgical Systems. "We are looking forward to leveraging our partnership with Oxford Finance to further propel our business through its next phases of market growth."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina. For more information visit www.oxfordfinance.com.
About RF Surgical Systems, Inc.
RF Surgical Systems, Inc. is the market leader in the detection and prevention of retained surgical items. The RF Assure Detection System™ is the preferred solution in more than 300 U.S. hospitals and surgical centers. A number of US News & World Report "Honor Roll" hospital recipients recently joined the fast-growing list of care providers benefiting from RF Surgical's detection technology.
RF Surgical Systems is based in Carlsbad, California. U.S. patents protect the advanced technologies used in the RF Assure Detection System™. Regulatory clearance to market the system was granted by the U.S. Food and Drug Administration in November 2006. Additional information about RF Surgical Systems, Inc. can be found at www.rfsurg.com.
SOURCE Oxford Finance LLC