LINKÖPING, Sweden; December 21, 2021—AMRA Medical, a ground-breaking digital health company and global leader in body composition analysis offering medical device and medical research services, announced today that it has signed a growth debt agreement of up to $5 million with Kreos Capital. Proceeds from the loan will be used to support AMRA’s growth strategy, including the international commercialization of its medical device services.
Eric Converse, CEO of AMRA Medical commented: “AMRA is at the start of commercialization efforts for our medical device and on the cusp of a new value inflection point. This is an ideal time to work with the Kreos team. The pragmatic approach demonstrated by Kreos tells me we have chosen the right partner at this stage of the company’s funding.”
Sonia Benhamida, Principal at Kreos Capital, added: “AMRA’s recent FDA 510(k) clearance for its AMRA® MAsS Scan (Muscle Assessment Score) is a fantastic milestone and we are very excited to support the company’s growth journey towards its commercialization. Beyond its medical device services, AMRA has also developed an impressive research services platform with blue chip collaborations translating into record bookings for research contracts. I have to say that we were very impressed by the team from the start and are delighted that its CEO, Eric Converse, recently received the Best CEO Sweden award from CEO Today Europe Awards 2021 magazine.
To learn more about AMRA’s offerings visit our Solutions page.
About AMRA Medical
AMRA is a digital health company at the forefront of medical imaging and precision medicine. The company has developed a new global standard in body composition analysis, the ability to automatically produce multiple fat and muscle biomarkers with unrivaled precision and accuracy, as well as contextual disease insights – all from a single, rapid, whole-body MRI scan.
About Kreos Capital
Kreos Capital is the leading growth debt provider in Europe and Israel, backing high-growth companies through every stage of their life-cycle. Kreos targets investments in all areas of the Technology and Healthcare sectors and, to date, has committed in excess of €3.2 billion in more than 640 portfolio company transactions, across 17 countries. With over $1.5 billion in current funds under management Kreos can invest between €2 million and €100 million per transaction in both public and private companies across all stages.