CIBC Innovation Banking provided a $30 million credit facility to Atlanta-based Azalea Health, which will use the capital to aid in its recent acquisition of dashboardMD, a cloud-based provider of business intelligence reporting solutions and healthcare analytics.
The Azalea platform provides electronic health records integrated with telehealth functionality, revenue cycle management and mobile health applications. As a cloud-based software-as-service solutions provider, Azalea serves a variety of ambulatory, inpatient and specialty care settings.
“Incorporating dashboardMD’s analytics capabilities in our clinician-friendly EHR will empower providers to better manage clinical quality measures and have enhanced visibility into their revenue,” Baha Zeidan, CEO of Azalea Health, said. “We couldn’t be happier that dashboardMD recognized Azalea as the EHR best positioned to advance the healthcare analytics space and help the medical field take a significant step forward through our unique joint offering, and are grateful to have CIBC’s support to bring this acquisition to a close.”
“CIBC Innovation Banking is pleased to help Azalea with its acquisition strategy and its continued development of solutions to assist its clients in effectively helping patients,” Andy Kirk, managing director at CIBC Innovation Banking, said. “We see the benefits that Azalea’s platform provides to customers, and we look forward to continuing to work with their outstanding team by providing tailored financing solutions and treasury management services.”
