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Covington Represents OrbiMed in $200M Credit Facility to Myriad Genetics

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  • Covington Represents OrbiMed in $200M Credit Facility to Myriad Genetics

NEW YORK—Covington advised OrbiMed in a five-year senior secured term loan credit facility providing up to $200 million of capital to Myriad Genetics, Inc. The facility includes $125 million of funded capital with an option to borrow up to an additional $75 million until June 30, 2027.

OrbiMed is a healthcare investment firm, with over $17 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, through private equity funds, public equity funds, and royalty/credit funds.

Myriad Genetics is a 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.

The Covington team included Peter Schwartz, Jennifer Uren, Matthew Foster, and Nancy Lu (debt finance), Kurt Baca and Lingyun Li (tax), Michael Francese and Valerie Hughes (benefits), Gary Rubman and Nick Rutigliano (IP), Scott Danzis, Anna Kraus, and Angela Lively (regulatory/HIPAA), Teresa Park (investigations), and Bruce Bennett (derivatives). 

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