Harrow Health lifts Oaktree loan by $12.5 million to acquire ophthalmic products

By Wendy Van Sickle

Columbus, Ohio, July 18 – Harrow Health, Inc. entered into a first amendment to its credit and guaranty agreement with Oaktree Fund Administration, LLC as administrative agent on July 18 to increase the size of the credit facility to $112.5 million from $100 million, according to an 8-K filing with the Securities and Exchange Commission.

Upon satisfaction of some conditions to funding, the company will draw down the additional $12.5 million to fund the initial one-time payment associated with the acquisition of several ophthalmic products from Santen Pharmaceutical Co., Ltd. and for other working capital and general corporate purposes.

Following entry into the amendment and the funding of the loan increase upon closing of the acquisition, the company will have drawn down a total principal loan amount of $77.5 million under the credit facility and have $35 million of remaining availability upon the commercialization of Triesence.

Harrow is an eyecare pharmaceutical company based in Nashville.

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