Balt, a company specialising in interventional neuroradiology, has raised €355m to refinance its debt and implement its growth strategy.
The funding was secured from a consortium of institutional investors and banks, marking a significant step in the company’s efforts to expand its operations and product development initiatives.
The financing is structured as a seven-year term loan and includes additional credit facilities aimed at supporting key priorities. A €75m line of credit will be used for capital investments and acquisitions, while a €45m revolving credit facility is set aside to strengthen the company’s liquidity.
These resources will enable Balt to scale production and enhance its presence in international markets, particularly the US, which represents a critical growth opportunity for the company.
As part of its expansion plans, Balt intends to increase capacity at its manufacturing facilities in Montmorency, France, and Irvine, California. This focus on operational scaling is aligned with the company’s broader target of reaching €1m in revenue by 2030.
The funding will also support the development of its neurovascular device portfolio and exploration of new markets.
The company has outlined its short-term goals, including achieving €300m in revenue by 2025.
Since 2015, Balt has experienced substantial growth under CEO Pascal Girin, with the support of majority shareholder Bridgepoint. During this period, the company has expanded its workforce to nearly 1,000 employees and multiplied its revenue six-fold.
Girin said: “Obtaining this financing marks an important milestone in our journey and confirms our ability to innovate and offer, all over the world, breakthrough devices in the non-invasive treatment of neurovascular diseases.
“It validates the confidence of Balt’s financial partners in our growth prospects, gives us the financial means to invest in cutting-edge research, expand our presence in the crucial US market, and increase our production capacity, which will drive strong and sustained growth and help us strengthen our leadership position in the medical device industry.”
