CIBC Innovation Banking is pleased to announce the lead arrangement of a $45 million syndicated debt financing for Atlanta-based Azalea Health, a leading provider of electronic health records and revenue cycle management for community-based healthcare providers.
Azalea’s fully cloud-based SaaS solution provides electronic health records integrated with telehealth functionality, revenue cycle management, and mobile health applications. The platform delivers tangible value to customers through lower total costs, shorter implementations, better configurability, and an improved user experience. Azalea serves a variety of ambulatory, inpatient, and specialty care settings, with a focus on helping underserved healthcare providers in the U.S.
"Azalea has been on an upward path of growth, and with CIBC Innovation Banking we will continue to grow and serve our amazing customers. We are grateful to have the team's support,” said Baha Zeidan, founder and CEO of Azalea.
“CIBC Innovation Banking has shown its capabilities to scale with growing software businesses and deliver tailored financing solutions," said Andy Kirk, Managing Director in CIBC Innovation Banking’s Atlanta office. “We look forward to working with the Azalea Health team as they continue to scale their business and help improve patient care across the U.S.”
Azalea was awarded the Best Electronic Health Record Solution designation at the 2021 MedTech Breakthrough Awards Program.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American and UK-based innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.
About Azalea Health
Azalea Health is changing the way health IT platforms connect community-based healthcare providers and patients across the care continuum. Offering a 100% cloud-based, interoperable solution, Azalea delivers electronic health records, revenue cycle management, and a fully integrated telehealth solution designed for rural, community and urban practices and hospitals. Quick to deploy and intuitive to use, Azalea solutions ensure better care coordination and communication, and the “one patient, one record” approach provides care teams the agility to achieve better outcomes. The Azalea platform also delivers tools and resources to help providers meet their Meaningful Use requirements, and informs their strategies to navigate accountable care and alternative payment models.
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Contacts
Katarina Milicevic, katarina.milicevic@cibc.com, 416-784-6108
