CIBC Innovation Banking provided a $15 million acquisition credit facility to Pennsylvania-based Blue Cloud Pediatric Surgery Centers, a provider of pediatric dental services in ambulatory surgical centers. Blue Cloud Pediatric Surgery Centers plans to use the credit facility to continue to expand its locations across the U.S.
“CIBC’s support is critical to fulfilling our mission to expand access to critical dental care to the children and special needs patients that need it most in our communities,” Devin Larsen, CEO of Blue Cloud Pediatric Surgery Centers, said. “We couldn’t be more excited to have CIBC support both our efforts to expand access and exemplify quality care.”
“Blue Cloud is an innovator in its field, as it aims to provide dental care to underserved children who require emergency treatment. Blue Cloud is able to serve their patients within days rather than the customary nine to 12 months wait caused by the backlog in the healthcare system,” Youssef Kabbani, a director in CIBC Innovation Banking’s office in Menlo Park, CA, said. “We were very impressed by both the management team and its medical team’s focus on patient safety while improving access and efficiency.”