CIBC Innovation Banking acted as lead arranger for a $45 million syndicated debt financing for Atlanta-based Azalea Health, a provider of electronic health records and revenue cycle management for community-based healthcare providers.
Azalea’s fully cloud-based SaaS solution provides electronic health records integrated with telehealth functionality, revenue cycle management and mobile health applications. The platform delivers tangible value to customers through lower total costs, shorter implementations, better configurability and an improved user experience. Azalea serves a variety of ambulatory, inpatient, and specialty care settings, with a focus on helping underserved healthcare providers in the U.S.
“Azalea has been on an upward path of growth, and with CIBC Innovation Banking we will continue to grow and serve our amazing customers. We are grateful to have the team’s support,” Baha Zeidan, founder and CEO of Azalea, said.
“CIBC Innovation Banking has shown its capabilities to scale with growing software businesses and deliver tailored financing solutions,” Andy Kirk, managing director at CIBC Innovation Banking, said “We look forward to working with the Azalea Health team as they continue to scale their business and help improve patient care across the U.S.”