Trinity Capital Commits $20 Million Growth Financing to ABM Respiratory Care

Trinity Capital has committed $20 million in growth capital to ABM Respiratory Care, a medical technology company building devices for airway clearance, ventilation, and connected respiratory care.

The financing arrives through Trinity Capital's Healthcare & Life Sciences platform. The lender, founded in 2008, says it has deployed more than $6.2 billion across over 490 investments as of June 30, 2026. Put differently, ABM's $20 million facility represents roughly three-tenths of one percent of Trinity's total capital deployed over eighteen years — a modest single bet within a large, diversified credit book.

What does ABM Respiratory Care actually make?

ABM Respiratory Care, founded in 2017, develops technologies for patients with acute and chronic respiratory conditions. Its BiWaze platform includes systems designed to support airway clearance, lung expansion, and secretion management in both hospital and home-care settings.

The company's broader strategy extends beyond hardware. It is developing connected-care capabilities intended to support patient engagement and give care teams greater visibility into how respiratory therapies are actually used. Its products support breathing, airway clearance, oxygen exchange, and communication between patients and healthcare providers.

Where will the $20 million go?

ABM plans to direct the Trinity financing toward four stated priorities:

• Accelerating commercial expansion
• Strengthening its presence in global markets
• Continued investment in product innovation
• Clinical research and connected respiratory technologies

The company did not disclose how the $20 million splits across those priorities, nor the pricing, covenants, or repayment structure of the facility. Both parties also stayed silent on ABM's revenue, valuation, and current market footprint.

What did the two sides say?

Rob Lake, Senior Managing Director of Healthcare & Life Sciences at Trinity Capital, framed the investment around patient need. "For patients with compromised respiratory systems, clearing the lungs and breathing comfortably takes real effort and the right technology," Lake said. "We believe ABM Respiratory Care builds that technology, and we are proud to support the team as they work to bring it to more patients around the world."

Greg Miller, Chief Executive Officer of ABM Respiratory Care, called the deal a financial milestone. "This financing represents another significant milestone in ABM Respiratory Care's growth and financial evolution," Miller said. "Building on our current strong commercial momentum, our partnership with Trinity Capital strengthens our financial foundation and provides the capital and operating flexibility to accelerate strategic growth initiatives, expand our presence in existing and new markets, and bring our innovative respiratory care technologies to more patients and healthcare providers worldwide."

Notably, Miller cites "strong commercial momentum" without publishing figures to substantiate it. The claim of momentum rests entirely on the CEO's word.

Why does the lender's profile matter?

Trinity Capital positions itself as an alternative asset manager specializing in private credit structures for growth-oriented companies seeking tailored financing. Beyond healthcare, it runs lending verticals in technology, equipment finance, sponsor finance, and asset-based lending.

The ABM deal fits a familiar pattern: growth-stage medtech companies frequently turn to structured debt rather than equity when they want capital without further dilution. That choice typically signals a company that expects to fund repayment from expanding sales rather than a future raise — an expectation this announcement implies but does not prove.

In plain terms, ABM now has $20 million in fresh capital and a debt obligation to match. Whether the bet pays off will show in its ability to convert BiWaze's hospital and home-care traction into the global footprint its CEO promises.