Cheetah Medical Partners with SWC Funding LLC to Advance Commercial Operations
“We are pleased to be working with the team at SWK and their approach to partnering with companies like Cheetah. They impressed us with their insightful questions during diligence and their shared confidence in Cheetah’s prospects in developing this very exciting market,” commented Kevin McArdle, Chief Financial Officer of Cheetah Medical. “We look forward to our continued collaboration with SWK as we work to become standard of care in the management of critically ill patients worldwide.” The capital secured through this agreement will provide crucial support to our Sales, Marketing and Clinical efforts.”
“SWK is pleased to partner with Cheetah to provide minimally dilutive, flexible capital to help the Company grow its highly innovative hemodynamic monitoring solution,” commented Winston Black, CEO of SWK. “We believe the Starling SV gives clinicians real-time data needed to guide patient fluid management decisions, which further provides substantial economic benefits to the healthcare system. We are particularly impressed with the Company’s ability to improve the care and outcomes of patients suffering from sepsis, a deadly condition that costs the healthcare system considerable financial resources.”
About Cheetah Medical
Cheetah Medical is the pioneer and leading global provider of 100 percent non-invasive fluid management monitoring technologies, designed for use in critical care, operating room and emergency department settings. The CHEETAH Starling™ SV is fast becoming the gold standard in fluid management, as it provides immediate, dynamic assessments of fluid responsiveness, enabling clinicians to make more confident and informed treatment for their patients. Moreover, recent research from the University of Kansas Medical Center has shown effective fluid management can reduce hospital ICU stays by an average of 2.89 days, reduce risk of mechanical ventilation and initiation of acute dialysis, saving over $14,000 in medical costs per patient. The company’s fluid management systems currently make an impact in more than 400 hospitals throughout the U.S. and in 30 countries worldwide.
About SWK Holdings Corporation
SWK Holdings Corporation (SWKH.OB) is a specialized finance company with a focus on the global healthcare sector. SWK partners with ethical product marketers and royalty holders to provide flexible financing solutions at an attractive cost of capital to create long-term value for both SWK’s business partners and its investors. SWK believes its financing structures achieve an optimal partnership for companies, institutions and inventors seeking capital for expansion or capital and estate planning by allowing its partners to monetize future cash flow with minimal dilution to their equity stakes. Additional information is available on the company’s website at www.swkhold.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding the marketing campaign in Southern California to expand outside Southern California. Forward-looking statements can be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect BIOLASE’s current expectations and speak only as of the date of this release. Actual results may differ materially from BIOLASE’s current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the “Risk Factors” section of BIOLASE’s annual report on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, BIOLASE does not undertake any responsibility to revise or update any forward-looking statements.