Bridge Bank will provide Walnut Creek, Calif.-based Providence Medical Technology with $10.5 million in new financing through a debt agreement.
Providence will use proceeds "to further commercialize and expand distribution of cervical fusion technology," according to a news release.
"We are pleased that we have partnered with Bridge Bank to bolster our balance sheet with this debt facility," Greg Curhan, CFO of Providence, said in the release. "This financing, coupled with our recently completed equity financing, puts us in a great position to continue to expand our distribution both across the United States as well as in international markets to deliver innovative spinal technology to help patients enjoy pain-free lives."