OraSure Technologies Receives $10.9 Million Credit Facility From Comerica
"As the newest office of Comerica's technology group, we are especially pleased to enter into this new client relationship with OraSure," said Steven D. Hobman, senior vice president and regional manager of Comerica's Mid-Atlantic North Technology and Life Sciences Division. "This broad-based financing solution -- which includes working capital, real estate and capital expansion components -- demonstrates our ability to serve companies throughout their entire lifecycle, whether they have just received their first round of funding or they are an emerging growth-oriented public company, like OraSure."
OraSure Technologies manufactures and markets oral fluid specimen collection devices using its proprietary technologies, other diagnostic products including immunoassays, and certain other medical devices. The company's products are used primarily for diagnostic testing in the substance abuse, infectious disease and insurance risk assessment markets.
"OraSure is pleased to be working with a respected financial institution such as Comerica. We believe the bank's local technology team understands the challenges we face and the opportunities available to us in the life sciences market," said Ron Spair, executive vice president and chief financial officer of OraSure Technologies. "This credit facility will be of great value as we explore new opportunities for our technology platforms and continue to grow our business."
About OraSure Technologies
OraSure Technologies, Inc. is the market leader for oral fluid diagnostics. The Company develops, manufactures, and markets medical devices and diagnostic products for use by insurance companies, public health agencies, clinical laboratories, physicians' offices, and workplace sites. For more information on the Company, please visit http://www.orasure.com.
About Comerica's Technology and Life Sciences Division
Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts. From 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $51 billion in assets. For more information, visit http://www.comerica.com.
SOURCE OraSure Technologies, Inc.
CONTACT: Ronald H. Spair of OraSure Technologies, Inc., +1-610-882-1820, or Investorinfo@orasure.com; or Adrienne Moch of Pacifico, for Comerica Technology and Life Sciences Division, +1-408-293-8600 ext. 319, or amoch@pacifico.com; or Keith Turner of Comerica Bank-California, +1-408-556-5111, or keith_turner@comerica.com /Websites: http://www.comerica.com http://www.orasure.com (CMA OSUR)
