CIBC Innovation Banking provided a $5.5 million debt financing to Health Fidelity, a healthcare technology company focused on supporting health plans and hospital systems engaged in risk-sharing arrangements. The company will use the debt capital to accelerate new product delivery to the provider market and to expand market development.
Founded in 2011 and headquartered in San Mateo, CA, Health Fidelity leverages proprietary natural language processing (NLP) technology and data analytics to process unstructured clinical data otherwise inaccessible for applied analytical use.
“The Health Fidelity team has extensive knowledge and experience in the areas of healthcare risk analysis and management,” Charlie Kelly, managing director with CIBC Innovation Banking in Denver, said. “This collaborative approach to client relationships results in robust platform development and deployment.”
“The CIBC Innovation Banking team invested the time to understand our business, our customers and our opportunity to improve the healthcare industry. Partnering with their team further strengthens our market position,” Brian McDonald, CFO of Health Fidelity, said. “Health Fidelity continues to drive significant year-over-year growth and deliver powerful, NLP-enabled risk adjustment solutions, despite the difficult operating environment created by the COVID-19 crisis. With CIBC Innovation Banking’s innovative and flexible products and considerable expertise, we have added additional financial resources to fully execute on our growth strategy.”