Horizon Technology Finance Corporation (Nasdaq: HRZN), an affiliate of Monroe Capital, has provided a $15 million senior credit facility to Bioness Medical, with $10 million funded at closing and up to $5 million still available.
Bioness develops FDA-approved neurorehabilitation technologies designed to improve mobility and function for people recovering from stroke, spinal cord injury and other neurological conditions.
Todd Cushman, Co-Founder and Chief Executive Officer, said Horizon's understanding of the life sciences sector made it an attractive partner. He said the facility provides additional capital and flexibility as Bioness continues investing in its product portfolio and serving patients and healthcare providers around the world.
Paul Seitz, Chief Investment Officer of Horizon, said providing flexible growth capital to companies with proven business models is a core focus of the firm's venture lending platform. Horizon has extensive experience partnering with healthcare and life sciences companies, he said, and Bioness is representative of the businesses it seeks to add to its portfolio.
Accelmed Partners, a private equity firm focused on commercial-stage healthtech companies, acquired Bioness from Bioventus in a transaction announced in October 2024 with $45 million of total cash consideration, including $25 million at close and up to $20 million in earn-outs, which completed on 31 December 2024.
In April 2026 Bioness acquired the PoNS portable neuromodulation stimulator product line, describing it as the company's third acquisition since becoming independent under Accelmed.
Horizon is a specialty finance company that makes secured loans to venture capital and private equity-backed companies, and to publicly traded companies, in technology, life science, healthcare information and services, and sustainability. It is externally managed by Horizon Technology Finance Management LLC, an affiliate of Monroe Capital, and is headquartered in Farmington, Connecticut.
The firm said its team has provided more than $3 billion in venture debt since 2004. As of 30 June 2026 its investment portfolio stood at $676.7 million, including 43 secured loans with a fair value of $648.0 million. In the second quarter it funded nine loans totalling $72.7 million, after completing a merger with Monroe Capital Corporation in April.