AUXILIO Receives Working Capital Line of Credit From Avidbank
Thursday, May 10, 2012
AUXILIO, a healthcare industry provider in managed print services (MPS), announced that Avidbank of Palo Alto, CA will fund a $2 million line of credit for working capital purposes that will support its burgeoning growth in the U.S. healthcare industry.
"AUXILIO is pleased to have established a financial relationship with Avidbank which truly understands our accelerated growth," said Joseph J. Flynn, president and CEO of AUXILIO. "This financing gives us the flexibility to execute on our business strategy as more healthcare organizations turn to our company to support their cost-reduction goals by implementing our MPS program."
"I am pleased that we were able to put this facility in place for AUXILIO," said Mike Hansen, EVP of Avidbank. "They are a leader in their market and we look forward to being a part of their long-term success."
AUXILIO has experienced mounting and consistent growth in the U.S. healthcare industry due to the company's unique healthcare exclusive and vendor neutral position in the MPS industry. The company is at the forefront of providing hospitals with specialized knowledge of urgent care print environments that ensures cost reduction, assistance with e-records execution and on-site planning as a strategy partner to reduce volume substantially. Recently, it was recognized by its peers as a "true pioneer" in the MPS industry for its work in hospitals, and cited as a best-of-breed independent document management service provider for its "risk-free model, with no upfront costs and advanced skill and knowledge of EMR readiness strategies for healthcare" organizations seeking best practices to control costs and manage existing hardware and software investments.
AUXILIO, Inc. is a provider of managed print services for the healthcare industry, working exclusively with hospitals and hospital systems throughout the United States.
Avidbank specializes in the following markets: commercial and industrial, corporate finance, technology and asset-based lending, real estate construction, commercial real estate lending and real estate bridge financing.