Myriad Genetics Announces New $200 Million Credit Facility
Myriad Genetics (NASDAQ: MYGN) has secured a new $200 million credit facility from OrbiMed, a leading healthcare investment firm. The five-year senior secured term loan includes $125 million in immediate funded capital and an option for an additional $75 million available until June 30, 2027.
The facility matures on July 31, 2030, with an interest rate based on one-month SOFR plus 6.50% annually (SOFR floor of 2.50%). This new arrangement replaces Myriad's previous ABL facility and is secured by substantially all company assets. The funding strengthens Myriad's capital position, providing over $200 million in accessible capital to support its growth strategy.
Myriad Genetics (NASDAQ: MYGN) ha ottenuto una nuova linea di credito da 200 milioni di dollari da OrbiMed, una delle principali società di investimento nel settore sanitario. Il prestito senior garantito a termine di cinque anni comprende 125 milioni di dollari di capitale immediatamente disponibile e un'opzione per ulteriori 75 milioni di dollari utilizzabili fino al 30 giugno 2027.
La linea di credito scade il 31 luglio 2030, con un tasso di interesse basato sul SOFR a un mese più il 6,50% annuo (con un floor SOFR del 2,50%). Questo nuovo accordo sostituisce la precedente linea ABL di Myriad ed è garantito da quasi tutti i beni aziendali. Il finanziamento rafforza la posizione patrimoniale di Myriad, offrendo oltre 200 milioni di dollari di capitale disponibile per sostenere la sua strategia di crescita.
Myriad Genetics (NASDAQ: MYGN) ha asegurado una nueva línea de crédito de 200 millones de dólares con OrbiMed, una destacada firma de inversión en salud. El préstamo senior garantizado a cinco años incluye 125 millones de dólares de capital financiado de inmediato y una opción para un adicional de 75 millones de dólares disponible hasta el 30 de junio de 2027.
La línea vence el 31 de julio de 2030, con una tasa de interés basada en el SOFR a un mes más 6.50% anual (con un piso SOFR del 2.50%). Este nuevo acuerdo reemplaza la anterior línea ABL de Myriad y está garantizado por prácticamente todos los activos de la compañía. El financiamiento fortalece la posición de capital de Myriad, proporcionando más de 200 millones de dólares en capital accesible para apoyar su estrategia de crecimiento.
Myriad Genetics (NASDAQ: MYGN)는 선도적인 헬스케어 투자 회사인 OrbiMed로부터 2억 달러의 신규 신용 시설을 확보했습니다. 5년 만기 선순위 담보 대출로, 1억 2,500만 달러의 즉시 자금 지원과 2027년 6월 30일까지 사용할 수 있는 추가 7,500만 달러 옵션이 포함되어 있습니다.
이 신용 시설은 2030년 7월 31일에 만기되며, 이자율은 1개월 SOFR에 연 6.50%를 더한 금리(최저 SOFR 2.50%)를 기준으로 합니다. 이번 신규 계약은 Myriad의 이전 ABL 시설을 대체하며, 회사의 거의 모든 자산을 담보로 합니다. 이번 자금 조달은 Myriad의 자본 구조를 강화하여 성장 전략을 지원하기 위해 2억 달러 이상의 자본을 제공합니다.
Myriad Genetics (NASDAQ : MYGN) a obtenu une nouvelle facilité de crédit de 200 millions de dollars auprès d'OrbiMed, une société d'investissement majeure dans le secteur de la santé. Ce prêt senior garanti à terme sur cinq ans comprend 125 millions de dollars de capital immédiatement disponible ainsi qu'une option pour un montant supplémentaire de 75 millions de dollars accessible jusqu'au 30 juin 2027.
La facilité arrive à échéance le 31 juillet 2030, avec un taux d'intérêt basé sur le SOFR à un mois plus 6,50 % par an (plancher SOFR de 2,50 %). Ce nouvel accord remplace la précédente facilité ABL de Myriad et est garanti par pratiquement tous les actifs de l'entreprise. Ce financement renforce la position de trésorerie de Myriad, offrant plus de 200 millions de dollars de capital disponible pour soutenir sa stratégie de croissance.
Myriad Genetics (NASDAQ: MYGN) hat eine neue Kreditfazilität über 200 Millionen US-Dollar von OrbiMed, einer führenden Investmentgesellschaft im Gesundheitswesen, erhalten. Der fünfjährige vorrangig besicherte Terminkredit umfasst 125 Millionen US-Dollar sofort verfügbares Kapital sowie eine Option auf weitere 75 Millionen US-Dollar, die bis zum 30. Juni 2027 verfügbar ist.
Die Fazilität läuft am 31. Juli 2030 ab und hat einen Zinssatz, der sich aus dem einmonatigen SOFR plus 6,50 % jährlich (mit einem SOFR-Mindestsatz von 2,50 %) zusammensetzt. Diese neue Vereinbarung ersetzt die vorherige ABL-Fazilität von Myriad und ist durch nahezu alle Unternehmenswerte besichert. Die Finanzierung stärkt die Kapitalposition von Myriad und stellt über 200 Millionen US-Dollar verfügbares Kapital zur Unterstützung der Wachstumsstrategie bereit.
- Secured $200 million credit facility with $125 million immediate funding
- Option for additional $75 million available until June 30, 2027
- Extended maturity timeline until July 31, 2030
- Partnership with OrbiMed, a leading healthcare investment firm
- Access to over $200 million in total capital for growth initiatives
- High interest rate of SOFR plus 6.50% with 2.50% SOFR floor
- Facility secured by substantially all company assets
- Increased debt burden on company's balance sheet
Insights
Myriad Genetics secured a $200M credit facility, strengthening liquidity but increasing interest costs in their growth-focused capital structure.
Myriad Genetics has significantly bolstered its financial flexibility with a new
The interest rate terms are noteworthy - SOFR plus
The collateral requirements are substantial, with the facility secured by "substantially all the assets" of Myriad and its subsidiaries, indicating a comprehensive security package for lenders. Combined with existing cash reserves, management states this gives them access to over
This move signals confidence in the company's expansion plans and product portfolio, particularly in molecular diagnostics and precision medicine. However, investors should note the significant interest expense that will impact future earnings. The company has promised more details on their growth strategy in their upcoming earnings call, which will be crucial for evaluating the potential return on this substantial financing arrangement.
SALT LAKE CITY, July 31, 2025 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, today announced it has closed a five-year senior secured term loan credit facility providing up to
“We are excited to partner with OrbiMed, a leading global healthcare investment firm. We value their insight and financial backing, which supports our ability to pursue our near-term objectives and long-term growth plan,” said Scott Leffler, chief financial officer, Myriad Genetics. “Between this credit facility and our cash and cash equivalents, we now have access to more than
“We are pleased to partner with Myriad to support the company’s growth strategy,” said Matthew Rizzo, General Partner of OrbiMed. “We believe Myriad’s portfolio of diagnostic tests provide critical insights that enable healthcare providers to deliver better care to patients.”
The new credit facility with OrbiMed replaces Myriad's previous ABL facility. The credit facility is secured by substantially all the assets of Myriad Genetics and its subsidiaries. Additional details on the credit facility are included in the company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 31, 2025. Evercore served as exclusive financial advisor to Myriad Genetics on this transaction.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad Genetics develops and offers molecular tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.
About OrbiMed
OrbiMed is a leading healthcare investment firm, with over
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the term loan credit facility and how it supports the company’s ability to pursue its near-term objectives and long-term growth plan. These “forward looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2025, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Katie Schraml
(224) 875-4493
PR@myriad.com
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