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DIGNITANA ESTABLISHES CREDIT FACILITY TO SUPPORT INCREASED DEMAND
Lund, Sweden - August 29, 2017 - Dignitana AB, a world leader in medical scalp-cooling technology has announced today a financial agreement with Union Business Leasing, Inc. of Boulder, Colorado to provide Dignitana a revolving credit facility.
The agreement provides a substantial line of credit to Dignitana AB and is secured by contracted DigniCap installations in the United States.
“Demand in the U.S. market continues to rapidly increase,” said Johan Ericsson, CEO, Dignitana AB. “The opportunity to establish this relationship with such a well-respected entity as Union Business Leasing is significant, and will allow us to provide DigniCap to more medical centers across the U.S. so that even more patients can easily access this life-changing treatment.“
“This borrowing facility enables Dignitana to capitalize on the tremendous opportunity the U.S. market provides while enabling us to utilize our equity capital on a much more efficient basis” said Bill Cronin, CEO, Dignitana, Inc. “This agreement ensures that we can match our equipment production cycle with the increasing demand for scalp cooling created by our recent indication expansion and greater awareness for this therapy option.”
“We are excited to work with Dignitana and support the expansion of scalp cooling technology,” said David Byrne, President, Union Business Leasing. “After significant review of Dignitana’s operations it is clear the product and company are well-positioned in the scalp cooling market space and we are delighted to be able to assist in their continued growth.”
Demand for Dignitana’s scalp cooling system has increased following the U.S. FDA’s expanded indication last month for DigniCap® allowing use by men and women receiving chemotherapy for solid tumor cancers such as breast, prostate, ovarian, and other tissues. As the first and only FDA-cleared device for such use, this expands the potential reach for the device to approximately 800,000 cancer patients annually (cancer.org). Previous clearance was limited to women with breast cancer.
The DigniCap® Scalp Cooling System is available at approximately 90 cancer centers in 21 states, including Sparrow Cancer Center, Hackensack Meridian Health Riverview Medical Center and UConn Health Neag Comprehensive Cancer Center helping thousands of patients each year minimize chemotherapy-induced hair loss.
About Union Business Leasing, Inc.
Union Business Leasing, Inc., founded in 2006, provides financing solutions to a wide variety of equipment vendors and suppliers and is a subsidiary of Union Leasing Corp. Its privately-held parent was founded in 1979 and both companies are based in Boulder, Colorado.
Press Contact – USA Corporate Contact – Sweden
Caren Browning Johan Ericsson, VD
King + Company Dignitana AB
00 1 212 561 7464 +46 46 163092
About Dignitana AB (publ)
Dignitana is a Swedish public company based in Lund and manufacturer of the medical cooling device DigniCap®. Dignitana AB is listed on Nasdaq First North Stockholm and has appointed Erik Penser Bank as Certified Adviser. Headquartered in Dallas Texas, Dignitana, Inc. is the U.S. subsidiary of Dignitana AB. For more information visit www.dignitana.se
About The DigniCap® Scalp Cooling System
DigniCap® is a patented scalp cooling system that offers cancer patients the ability to keep their hair during chemotherapy. DigniCap® provides continuous cooling with high efficacy, safety and acceptable patient comfort. www.dignicap.com
This information is information that Dignitana AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, by the above contact, for publication at 08:00 (CET), 29 August, 2017.