Wellington Financial provided a $10 million credit facility for TUC Managed IT Solutions. The funds will help TUC, a market-leader in managed IT and cloud services, acquire CareWorx, a North American-leader in technology solutions serving senior care facilities.

“TUC and CareWorx have been working very closely since November 2014 – strategically, taking our partnership to the next level just made sense,” said Mark Scott, CEO of TUC and the newly-merged company. “Together we saw new opportunities emerging in this market set to explode over the next decade. The financing provided by Wellington Financial will help us realize on these opportunities and build a stronger company for the benefit of each of our customers.”

TUC provides IT service organizations including small and medium-sized enterprises, technology vendors and service providers with a comprehensive suite of managed IT and cloud services for end-users. The merger represents the next level of managed services providing the complete technology stack for senior care – devices, applications, service and support.

CareWorx is a provider of advanced technology hardware, cloud products and related services to senior care facilities leveraging a strategic partnership with PointClickCare® – the market-leader in Electronic Health Records (EHR) software for senior care.

Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment.