Square 1 Bank Announces Credit Facility to Activate Healthcare
23 September 2015 - 10:00PM
Square 1 Bank, the premier banking partner to entrepreneurs and the
venture capital community, today announced that it has provided a
$4 million credit facility to new client Activate Healthcare, a
leading provider of workplace health clinics that is encouraging
employees to take charge of their health and employers to take
charge of their healthcare costs. Proceeds will be used to support
the company's continued growth.
Founded in 2009, Activate Healthcare delivers quality primary
care and health coaching services at or near employer office
locations. Clinics may be operated for a single employer or shared
among multiple employers. They are open at least 40 hours per week
and have full-time physicians and wellness coaches on staff. By
promoting employee healthcare engagement via on- or near-site
primary care clinics, Activate Healthcare improves patient
satisfaction while helping employers lower their healthcare costs
and maximize worker productivity. Activate Healthcare's one-on-one
health coaching services and online resources also empower patients
to achieve their personal health goals.
"This credit facility will assist us in continuing to provide
outstanding quality of care to all of our patients, while growing
our leading on-site primary care model across the U.S.," said Peter
Dunn, Activate Healthcare principal and co-founder. "We are
delighted to collaborate with Square 1 Bank as we continue to grow
our business."
"Adding value to our partner organizations by generating
significant cost savings and enabling a healthier workforce are
tangible results of the important work we are doing to transform
health care," added Debra Geihsler, principal and co-founder of
Activate Healthcare. "We are empowering physicians to develop
long-term relationships with patients, provide preventive care,
educate patients and activate them to take control of their
health."
Nick Honigman, vice president in Square 1 Bank's Midwest life
sciences practice, said, "We are excited to support the Activate
Healthcare team in their mission to transform healthcare in the
United States. Debra and Peter's dedication and innovative approach
have already earned impressive results at their 20+ clinics in the
Midwest. Square 1 is pleased to support their continued
expansion."
About Activate Healthcare, LLC
Activate Healthcare ranked 441 on the 2015 Inc. 5000 list of the
fastest-growing private companies in America, with three-year sales
growth of 1,064%. The company activates patients to take charge of
their own health by delivering proactive, preventive primary care
at or near an employer's location. Headquartered in Indianapolis,
Indiana, it was formed in 2009 by Debra Geihsler and Peter Dunn.
The goal of Activate Healthcare is to transform health care by
delivering primary care that engages the patient, guides the health
care continuum to lower costs, fosters a culture of health,
integrates data to help proactively manage patient outcomes,
empowers providers to enhance the delivery of quality,
individualized care and enables employers of all sizes to benefit
from dedicated care. The company currently serves approximately 50
employers through 24 clinics, with three more scheduled to open by
early 2016. For more information about Activate Healthcare, please
visit www.activatehealthcare.com.
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated
exclusively to serving the financial needs of the venture capital
community and entrepreneurs in all stages of growth and expansion.
Square 1's expertise, focus and strong capital base provide
flexible resources and unmatched support to meet our clients'
needs. Square 1 has offices coast-to-coast in Austin, the Bay Area,
Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New
York, San Diego, Seattle and Washington, DC. For more information,
visit www.square1bank.com.
CONTACT: Media Contact:
Square 1 Bank
Dee McDougal
919.597.7479
dmcdougal@square1bank.com
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