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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 906,003,982
Close 2022-11-21 C$ 63.97
Recent Sedar Documents

CIBC provides $25M in debt financing to Podimetrics

2022-11-22 10:23 ET - News Release

Mr. Jeff Chapman reports

CIBC INNOVATION BANKING PROVIDES $25 MILLION IN DEBT FINANCING TO PODIMETRICS, INC.

Canadian Imperial Bank of Commerce's CIBC Innovation Banking has arranged a $25-million debt financing for Massachusetts-based Podimetrics Inc., an integrated clinical care service company that helps prevent amputations in patients suffering from complex diabetes. Podimetrics plans to use the growth capital to expand its commercial operations.

Founded in 2011, Podimetrics created the SmartMat, an easy-to-use, at-home mat that detects temperature changes in patient's feet and alerts Podimetrics' clinical and patient support team of potential health issues. The company aims to drive broader adoption of the SmartMat to help improve care outcomes for at-risk patients dealing with diabetic foot ulcers.

"We look forward to working with CIBC Innovation Banking as we continue to provide our technology to patients with diabetes across the United States," said Matthew Scalo, chief financial officer, Podimetrics.

"CIBC Innovation Banking is proud to support Podimetrics as it continues to grow and help diabetic patients," said Jeff Chapman, head of North American life science and health care, CIBC Innovation Banking. "We are excited to work with a company dedicated to providing preventative care and helping reduce amputations in diabetic patients."

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and financing to innovation companies across North America, the United Kingdom and select European countries at each stage of their business cycle, from start-up to initial public offering and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking and capital markets businesses in the United States, Canada, the U.K. and select European markets.

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