Washington Trust’s Commercial & Industrial Lending Group has provided financing to Contech Medical, a global supplier of medical devices to some of the medical supply companies in the world including Bard, Johnson & Johnson and Boston Scientific.
Contech Medical said that the financing will be used for upgrades and renovations to company’s 100,000 square-foot headquarters located on Hartford Avenue in Providence, RI.
Joseph MarcAurele, chairman, president and CEO at Washington Trust, said: “We’re pleased to work with Contech Medical, a business that has earned global success by following the ‘old school principals’ of combining quality products with excellent customer service.”
Raymond Byrnes, president and CEO of Contech, said: “Washington Trust has been a great financial partner, providing the financing we needed to upgrade our facilities so that we can maintain our high production standards.”
Contech Medical is a contract manufacturer of medical device dispenser coils. Among the items it fabricates and manufactures are spiral-wound and clipped guidewire/catheter/stent dispensers used in conjunction with heart catheterizations and angioplasty.