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The SandRob robotic system is capable of sanding, polishing, and trimming complex shapes of all scales and measurements, according to the company. | Supply: Epica Worldwide
Epica Worldwide secured an $18 million development capital credit facility from multiple Avenue Capital Group funds. The initial investment of $13.5 million is expected to primarily cover refinancing existing debt, fuel strategic expansion, and accelerate the evaluation and implementation of growth-enhancing projects. The potential to earn an additional $4.5 million arises once specific benchmarks of operational efficiency are successfully attained.
A leading developer of cutting-edge medical imaging solutions and precision robotics technology is headquartered in Landrum, South Carolina. The company boasts an impressive portfolio of 75 issued and pending patents across its medical imaging and robotics platforms in the United States, European Union, and various other countries. Its robots work in various fields such as veterinary care, orthotics and prosthetics, aerospace, automotive, and many others.
“Epica Worldwide has reached a significant milestone with this latest round of funding,” said Joe Soto, CEO. The significant investment from Avenue Capital will enable us to bolster our financial foundation, expand our market reach, and accelerate the development of innovative technologies that will revolutionize medical imaging and robotics. We’re delighted to partner with Avenue Capital, a firm renowned for its proven track record of backing innovative companies.
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Avenue Enterprise Alternatives Fund, L.P. And Avenue Enterprise Alternatives Fund II, LP and other affiliated funds of Avenue Capital Group participated in the funding round.
The expansion capital mortgage has a four-year term and includes provisions enabling Avenue Capital to acquire a 0.5% equity stake in Epica Worldwide. Does this option present a chance to potentially boost earnings by $2 million within the next two-year timeframe? The lender also retains the right to convert up to $3.5 million of their principal into common stock at a price of $8.50 per share.
Epica specializes in developing robots that streamline and optimize manufacturing workflows. The SandRob system seamlessly sands, polishes, and trims complex shapes of varying scales with precision and consistency. This innovative machinery features a dynamic power control mechanism, allowing operators to finely tune the force applied to the work surface, thereby enabling the creation of diverse outcomes from the same raw material.
The corporation has also developed ScultoRob, a cutting-edge 7-axis robotic system designed to excel in milling and turning operations on intricate models and prototypes crafted from a diverse range of materials, including marble, stone, wood, styrofoam, and others. The ScultoRob system offers a highly versatile milling capability as a mid-process solution.
Strategic financing is aligned with a broader trade development aimed at securing elevated funding for medical expertise, according to Epica. In many respects, this notion proves particularly pertinent when considering minimally invasive surgical procedures, image-guided treatments, and AI-driven diagnostic tools.
“We are proud to collaborate with Epica Worldwide, supporting their innovative efforts to transform medical imaging and robotics,” said Chad Norman, Senior Portfolio Manager at Avenue Capital. Epica’s distinctive strengths, comprising their expert platforms and intellectual property holdings, position the company for sustained prosperity in an increasingly dynamic industry. “We look forward to a long-term and productive partnership.”
