Turning Rock Partners, a private investment firm based in New York, realized its $45 million investment in MedShift, a founder-owned and led medical technology software provider based in Charlotte, NC. Turning Rock’s structured loan to the company was fully realized through a full payoff of its obligations as the company shifts to long term capital for growth.
“Turning Rock is pleased to announce that MedShift has accomplished a new round of institutional debt financing that will drive its growth for the future,” Erin Andrew, senior managing director of Turning Rock, said. “We were pleased to partner with the company on its expanding equipment and technology investments. Its next phase of growth will be driven by its exceptional management team. Our model of providing transitional capital to growing founder led companies was demonstrated here.”
“We thank Turning Rock for its support which enabled us to expand our investments in technology and team to realize strong growth,” Joe Gasque, CEO of MedShift, said.
Turning Rock’s structured loan to the company was contributed in April of 2023 as part of a broader $108 million financing round led by management and existing shareholders.
