SANUWAVE Health signed a $1 million equipment financing lease agreement with NFS Leasing. This agreement will enable SANUWAVE to begin distributing the dermaPACE System, which is used in the treatment of diabetic foot ulcers, to wound care centers in the U.S.
NFS Leasing has a background in medical equipment financing and will be a partner to SANUWAVE in its initial commercialization of dermaPACE in the U.S. after receiving FDA clearance in December 2017.
“The agreement with NFS is a crucial announcement for the company as we execute our plan for a successful rollout in the massive U.S. diabetic foot ulcer (DFU) market. This allows us to access capital to place devices which in turn will drive procedures and ultimately revenue,” said Kevin A. Richardson II, CEO of SANUWAVE. “We have a well-developed plan in place to roll out dermaPACE methodically throughout 2018. We are very excited to have this line in place which allows us to launch our rapid revenue growth.”
SANUWAVE anticipates the first draw on this line will be made later in February with initial delivery shortly thereafter.
“We have been following SANUWAVE’s progress for a while and began discussions about doing business together prior to their good news from the FDA. We are glad to be providing capital for a business model that will help heal a massive medical problem involving diabetic foot ulcers. The company has developed a great go-to market strategy and we are looking forward to a successful strategic relationship,” said David DePamphilis, chief operating officer of NFS Leasing.
NFS Leasing is an independent equipment leasing company, serving growth-oriented companies in a variety of fields. NFS specializes in leasing technology equipment, scientific and medical equipment, as well as robotic, manufacturing and construction equipment.
MONITOR: On a scale of one to 10, with 10 being the best year you could imagine, please rate 2017 and provide an explanation of your rating. What were the primary takeaways for the industry? Which trends and obstacles emerged?... read more
Strong interest in mergers and acquisitions of equipment leasing and finance companies continues. However, after two years of very high activity, due partly to the GE Capital divestiture, the number of significant acquisitions declined slightly in 2017. Nevertheless, because a... read more