Balt, a global medical device leader in interventional neuroradiology, announced that it secured €355 million in financing from a group of leading institutional investors and banks to refinance existing debt, accelerate product innovation, expand production capacity, and enhance the development of key growth markets.
This new funding, with a seven-year maturity, demonstrates Balt’s attractive investment profile and will allow Balt to accelerate its growth. Along with refinancing its existing debt, Balt has obtained a €75 million line of credit dedicated to capital investments and inorganic growth and a €45 million revolving credit facility to strengthen its liquidity further.
These funds provide it with critical resources to develop and expand its portfolio of high-precision neurovascular medical devices. And it will also accelerate the company’s global expansion, especially in the United States, the largest market in the world for medical devices and a key driver of the company’s future growth.
To support this initiative, Balt plans to increase the capacity of its production sites in Montmorency, France and Irvine, California. This financing also reinforces Balt’s commitment to sustained growth and positions the group to achieve its target of one billion euros in sales by 2030.
Under the leadership of CEO Pascal Girin and Bridgepoint as the majority shareholder, And Balt has experienced remarkable growth since 2015, increasing its revenue six-fold and expanding its global workforce ten-fold to nearly 1000 employees. The company is aiming for revenue of over €300 million in 2025.
KEY QUOTES:
“Obtaining this financing marks an important milestone in our journey and confirms our ability to innovate and offer, all over the world, breakthrough devices in the non-invasive treatment of neurovascular diseases. It validates the confidence of Balt’s financial partners in our growth prospects, gives us the financial means to invest in cutting-edge research, expand our presence in the crucial U.S. market, and increase our production capacity, which will drive strong and sustained growth and help us strengthen our leadership position in the medical device industry.”
– Pascal Girin, President of Balt
“This refinancing clearly validates Balt’s strategy, the expertise of its team, and its commitment to improving patient care to build the future of neurovascular treatment. We are delighted to support the company in its growth momentum, and to contribute to this exemplary success in the Medtech field.”
– Fabrice Turcq, Partner at Bridgepoint
