Square 1 Bank is providing a $2.5 million credit facility to Austin-based Hospitalists Now Inc., a hospital management company. The money will be used for working capital, and for growth efforts.
Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, is pleased to provide a $2.5 million credit facility to Austin-based Hospitalists Now, Inc., a hospital management company dedicated to providing customized solutions to improve clinical and operational outcomes in hospitals and private medical practices. Proceeds of the credit facility will be used to provide working capital and support growth.
Hospitalists Now’s full service hospital management program includes offering their proprietary hospital medicine technology suite, HM VitalSigns™ (patent pending), matching qualified MDs to meet hospitals’ needs, and providing management and consulting services.
“We are excited to partner with Hospitalists Now and look forward to supporting their growth as they take their business to the next level. We are very impressed with the company’s management team, and the products and services they offer to hospitals and private practices,” said David McLaughlin, senior vice president in Square 1’s Austin office.
Barry Fromberg, chief financial officer of Hospitalists Now, added, “We are thrilled to be working with Square 1 Bank. They have provided a flexible credit facility that will enable us to continue to grow our company. They truly understand our business and are a great partner for us.”
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. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.
About Hospitalists Now, Inc.
Hospitalists Now is a technology based healthcare services company that delivers full service hospitalist programs along with flexible solutions and services customizable to each client’s unique situation. Its proprietary technology suite, HM VitalSigns™ (patent pending), has proven to improve patient outcomes while also improving its clients’ operating performance by strengthening the revenue cycle, controlling costs and reporting key performance indicators. Hospitalists Now is based in Austin, TX with operations in the southern portion of the United States.