Sanara MedTech has entered into a $55.0 million non-dilutive term loan agreement with CRG Servicing LLC, an affiliate of CRG, a healthcare focused investment fund, to support the Company’s growth initiatives in 2024 and 2025. Sanara received $15.0 million in gross proceeds at closing and can draw up to $40.0 million in additional funds, at its option, in two tranches before June 30, 2025. The Company used approximately $9.8 million of the net proceeds to retire its existing debt. The remaining net proceeds will be used for the Company’s growth initiatives, including permitted acquisitions and investments, as well as for working capital and general corporate purposes. In addition, Sanara is currently in discussions with a commercial bank to establish a $10.0 million revolving line of credit as permitted under the CRG facility.
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