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Censis Technologies, Inc.

Surgical Instrument Tracking

Censis Technologies, Inc. provides a portfolio of surgical instrument tracking solutions. It offers InstrumenTrac, an electronic tracking and data management system for surgical instruments; TrayTrac that provides RFID or scanner tracking for tray sets, electronic count sheet, and flash/sterilization data management; ScopeTrac that offers electronic tracking for endoscopes; SterilTrac that provides automation and recordkeeping for SPD terminal sterilization and OR-based flash; and MobileTrac for RFID or scanner tracking of mobile equipment assets. The company serves government and acute care facilities/systems, and off site re-processors. Censis Technologies, Inc. was incorporated in 1999.


10/16/2018: Company acquires Applied Logic

With the expanded business, The Company claims to  serve more than 1,300 hospitals across North America.

BDC Credit Reporter View

The only BDC with exposure to the Company is Saratoga Investment (SAR), which began in 2014, in the form of debt and equity. In 2015-2016 the equity was written down on an unrealized basis by nearly a third but has recovered. In fact, the equity has been written up -through June 2018 - 9 quarters in a row and is now valued at more than twice its cost. With the most recent acquisition, the value of the equity may grow further and result in a Realized Gain at some point of $1mn or more for SAR. The debt, which matures 7/24/2019 and pays LIBOR + 10.00%  is likely to be refinanced in the next 12 months, and the spread reduced. (Updated October 18, 2018)