The investment will refinance all existing company loans and provide device acquisition capital to support MedShift’s projected growth.
“FNB’s group of Charlotte Business Bankers have demonstrated great flexibility which enables us to continue serving our clients and innovating our unique medical technologies,” said Brian Phillips, MedShift CEO.
MedShift’s current portfolio spans more than 12 state-of-the-art medical devices, four sister brands and more than 200 partner practices across the U.S. The company expanded into Australia and New Zealand earlier this year. MedShift tapped Charlotte-based investment banker Bundy Group to facilitate the debt raise process.
MedShift, founded in 2015 in Charlotte, NC, delivers platform as a service to both medical device manufacturers as well as individual medical practices.