TORONTO--(BUSINESS WIRE)--Wellington Financial LP, a privately-held specialty finance firm, today announced it closed a US$15 million growth financing for a US-based, venture capital-backed information technology company servicing the healthcare industry.
“We are pleased to announce another financing for a fast-growing, innovative company that understands the value of True Growth Capital™,” said Jeff Chapman, Partner and Head of Healthcare and Life Sciences at Wellington Financial. “We are dedicated to supporting successful businesses in the healthcare industry that actively improve the quality of healthcare in the digital age.”
To date, Wellington Financial has led $65 million in transactions with eight high growth healthcare industry companies, including CareCloud, Careworx and Inception Lifebank (acquired by Cell Care). Wellington’s interest-only loan structures are ideal for businesses on a high growth trajectory that have reached the stage where they can attract growth capital without experiencing the dilution associated with an equity round.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture, unitranche and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica, and Toronto. Wellington Financial LP is managed by a partnership controlled by a fund management Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions, and pension funds. Please visit the fund website at www.wellingtonfund.com.