Credit Facility Supports Continued Growth
ALPHARETTA, Ga.--(BUSINESS WIRE)--Aug. 21, 2019--
CSI Laboratories (CSI), a leading cancer testing laboratory that supports pathology and oncology specialties, announced today that it has entered into an agreement with Bank of America for a revolving line of capital.
“This credit facility gives CSI laboratories additional liquidity for new infrastructure and growth objectives, including the development of advanced testing initiatives,” said Chris Wicker, Chief Executive Officer of CSI. “It also provides additional financial assurances to our current and new customers that we will be able to quickly scale as needed to meet increased case load and turnaround time demands.”
“We at Bank of America believe that CSI Laboratories is well-positioned for continued expansion in a dynamic market space,” said Ben Sullivan, Senior Relationship Manager, Business Banking at Bank of America Merrill Lynch. “Bank of America is excited about providing growth capital to CSI and supporting their mission in cancer diagnostic care.”
The new credit facility will be used by CSI Laboratories for general corporate purposes, including working capital and infrastructure enhancements.
ABOUT CSI LABORATORIES
CSI Laboratories was founded in 1997 to provide a more client- and patient-focused model of cancer diagnostic testing for pathologists, community hospitals and their patients. CSI Laboratories offers flow cytometry, cytogenetic analysis, fluorescence in-situ hybridization (FISH), immunohistochemistry, molecular genetics, next generation sequencing, and consultations to hematopathology and surgical pathology clients. It is independently owned and operated by medical professionals, providing expert diagnostic testing and rapid turnaround times for clients across the United States. CSI is a CLIA-certified and CAP-accredited cancer reference laboratory located in Alpharetta, GA.
For more information, please visit csilaboratories.com.
ABOUT BANK OF AMERICA
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom.
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Source: CSI Laboratories