NantHealth, a provider of enterprise solutions that help businesses transform complex data into actionable insights, entered into a credit agreement for a new senior secured term loan in an aggregate principal amount of $22.5 million. The company intends to use the proceeds to continue funding its existing businesses and for general corporate purposes. The term loan facility was funded by two existing NantHealth investors: Highbridge Capital Management and Nant Capital.
“The era of digital medicine and augmented intelligence has finally arrived. NantHealth has stood at the forefront of driving evidence based, low-cost care to treat the right patient at the right time and the right place. Artificial intelligence and the speed of network computing has reached a level of technological development that can now truly benefit 21st century care. We are pleased at the continued support of NantHealth at this transformational time in healthcare,” Dr. Patrick Soon-Shiong, chairman and CEO at NantHealth, said.
“This investment will enable us to continue the momentum we have generated over the past year,” Ron Louks, chief operating officer at NantHealth, said. “The transaction proceeds provide us with the financial resources to invest in our established solutions, NaviNet and Eviti, and our subsidiary, The OpenNMS Group. We thank our financing partners at Highbridge, NantCapital and our founder Dr. Patrick Soon-Shiong for their continued support.”
“We are very pleased to continue our investment in NantHealth,” Jonathan Segal, co-chief investment officer of Highbridge, said. “The financing is intended to support NantHealth’s ongoing business, finance the ongoing expansion of SaaS capabilities, and fund future growth initiatives that should benefit the Company and its customers and stakeholders.”
