ZoomMed Inc (TSX-V: ZMD) has raised $500,000 in debt financing from Persistence Capital Partners, a Canadian healthcare private equity firm. Brossard, Québec-based ZoomMed is the builder and operator of a clinical information exchange platform between physicians and other stakeholders, such as pharmacists, healthcare specialists, pharmaceutical companies and private insurers. It said it will use the loan’s proceeds as working capital.
ZoomMed Announces the Closing of a $500,000 Financing Agreement
MONTREAL, QUEBEC–(Marketwired – March 14, 2017) – ZoomMed Inc. (TSX VENTURE:ZMD) announces the closing of a $500,000 financing agreement with Persistence Capital Partners II, L.P. The loan bears interest at 12 % per annum payable on a monthly basis and a set-up fee of $25,000. The loan is repayable under certain conditions on March 31, 2018. This loan will be used to provide working capital to fund operations of the Corporation.
“I am pleased to welcome this new investing partner who believes in ZoomMed’s momentum and its ability to capitalize on the foundations it has built throughout the recent years”, said Mr. Yves Marmet, President and Chief Executive of ZoomMed.
ZoomMed builds and operates “ZoomMed’s communication network”, a clinical information exchange platform between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations and private insurers. The cornerstone of this network is ZoomMed’s “ZRx Prescriber”, a technological innovative Web application that greatly simplifies the writing of a prescription for the physician. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).
About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively focused on high-growth opportunities in the healthcare field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors by identifying and developing attractive investment opportunities in the Canadian healthcare market.
Mr. Yves Marmet
President and Chief Executive Officer
(450) 678-5457, Ext 228
Photo courtesy of ZoomMed Inc