Endocare Secures Line of Credit From Silicon Valley Bank
2005年11月4日 - 9:30PM
PRニュース・ワイアー (英語)
IRVINE, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Endocare, Inc.
(OTC:ENDO) (BULLETIN BOARD: ENDO) , an innovative medical device
company focused on the development of minimally invasive
technologies for tissue and tumor ablation along with vacuum
technologies for erectile dysfunction, announced today that it has
secured a $4 million line of credit from Silicon Valley Bank, the
primary subsidiary of SVB Financial Group (NASDAQ:SIVBE). Endocare
has also chosen Silicon Valley Bank as its primary financial
services provider. "The credit line is a 12 month facility and will
be used to provide additional working capital, as needed, to fund
the Company's growth," said Endocare CFO Michael Rodriguez. "We are
pleased to be expanding our relationship with Silicon Valley Bank,
a respected and established provider of banking services." "We have
maintained a relationship with Endocare since 1995 and we're
pleased to expand our relationship with the Company through this
new working capital facility," said Richard Shuttleworth, senior
relationship manager, Silicon Valley Bank. "Silicon Valley Bank has
worked with technology and life science companies like Endocare for
over 20 years and we strive to provide them with the creative
solutions and diversified financial services they need to reach
their business goals." About Silicon Valley Bank Silicon Valley
Bank provides diversified financial services to emerging growth and
mature companies in the technology, life science, private equity
and premium wine industries. Through its focus on specialized
markets and extensive knowledge of the people and business issues
driving them, Silicon Valley Bank provides a level of service and
partnership that measurably impacts its clients' success. Founded
in 1983 and headquartered in Santa Clara, Calif., the company
serves clients around the world through 27 domestic offices and two
international subsidiaries in the U.K. and India. More information
on the company can be found at http://www.svb.com/. About Endocare
Endocare, Inc. -- http://www.endocare.com/ -- is an innovative
medical device company focused on the development of minimally
invasive technologies for tissue and tumor ablation as well as
vacuum technologies for erectile dysfunction. Endocare has
initially concentrated on developing technologies for the treatment
of prostate cancer and believes that its proprietary technologies
have broad applications across a number of markets, including the
ablation of tumors in the kidney, lung, liver and bone. Statements
contained in this release that are not historical facts are
forward-looking statements that involve risks and uncertainties.
Among the important factors which could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, those discussed in "Risk Related
to Our Business" in the Company's Forms 10-K, Forms 10-Q, and other
filings with the Securities and Exchange Commission. Such risk
factors include, but are not limited to: uncertainty relating to
ongoing investigations by governmental agencies; uncertainty
regarding the effects of effectuating the proposed reverse stock
split, in particular the possibility that the market may react
negatively to our effectuation of a reverse stock split;
uncertainty regarding market acceptance of the Company's products;
uncertainty of product development and the associated risks related
to clinical trials; uncertainty relating to third party
reimbursement; ability to convince health care professionals and
third party payers of the medical and economic benefits of the
Company's products; difficulty in managing growth; the Company's
limited sales, marketing and manufacturing experience; ability to
attract and retain key personnel; ability to secure and protect
intellectual property rights relating to the Company's technology;
the rapid pace of technological change in the Company's industry;
fluctuations in the Company's order levels; and the Company's
successful re-listing on a national stock exchange. The actual
results that the Company achieves may differ materially from any
forward-looking statements due to such risks and uncertainties. We
undertake no obligation to revise, or update publicly, any
forward-looking statements for any reason. Investor Contact: Matt
Clawson Allen & Caron, Inc. (949) 474-4300
http://www.allencaron.com/ Media Contact: Len Hall Allen &
Caron, Inc. (949) 474-4300 http://www.allencaron.com/ For
Additional Information: Craig T. Davenport, CEO Michael R.
Rodriguez, CFO Endocare, Inc. (949) 450-5400
http://www.endocare.com/ DATASOURCE: Endocare, Inc. CONTACT:
Investors, Matt Clawson, , or Media, Len Hall, , both of Allen
& Caron, Inc., +1-949-474-4300, for Endocare, Inc.; or Craig T.
Davenport, CEO, or Michael R. Rodriguez, CFO, both of Endocare,
Inc., +1-949-450-5400 Web site: http://www.svb.com/ Web site:
http://www.endocare.com/
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