Strata Closes $30M Revolving Credit Facility

Strata Critical Medical, Inc. has closed a secured, asset-based revolving credit facility with JPMorgan Chase Bank for up to $30.0 million in aggregate principal amount. The facility is undrawn at closing and can be increased to $50.0 million, subject to certain conditions.

Strata said the revolving credit facility will improve capital efficiency to fund future acquisitions. The collateral package excludes the company’s owned aircraft, which will remain unencumbered. Strata described a track record of tuck-in acquisitions in the clinical perfusion space.