Sanara MedTech secures $55 million term loan via CRG

By Marisa Wong

Los Angeles, April 18 – Sanara MedTech Inc. entered into a $55 million non-dilutive term loan agreement with CRG Servicing LLC, an affiliate of CRG LP, according to a press release.

The loan will be used to support Sanara’s growth initiatives for 2024 and 2025.

Sanara received $15 million of gross proceeds at closing and can draw up to $40 million in additional funds, at its option, in two tranches before June 30, 2025.

The company used about $9.8 million of 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 in discussions with a commercial bank to establish a $10 million revolving line of credit as permitted under the CRG facility.

The medical technology company is based in Fort Worth.

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