The Philadelphia-based chain of Urgent Care Centers has secured $1.85 million in funding. The investor was Change Capital. The capital infusion will be used for growth.
NEW YORK (PRWEB) OCTOBER 16, 2018
Change Capital, a commercial financing provider headquartered in New York, is pleased to announce that it is has provided a total of $1.85 million in funding to a Philadelphia-based chain of Urgent Care Centers, with 19 locations throughout Southeastern Pennsylvania.
Change Capital’s financing has been leveraged to help the company grow out its geographical footprint, with the latest tranches serving to bridge to the recently-announced acquisition of the company.
The founder and CEO of the Philadelphia-based chain of Urgent Care Centers, commented: “Change Capital has been instrumental in our growth over the past two years. They replaced our previous complicated and onerous credit facilities with creative and flexible financing, allowing us to be acquired at a very desirable valuation. They have been a pleasure to work with and have truly been partners in our success.”
“It has been exciting to watch and participate in the company’s growth and acquisition,” stated Change Capital CEO Raffi Azadian. “The founder and CEO is the rare medical practitioner that also happens to be a dynamic and inspirational entrepreneur.”
About Change Capital:
With headquarters, underwriting and back-office operations in New York and origination and service locations in Chicago, Los Angeles, and Atlanta, Change Capital provides creative, flexible, and timely capital solutions to small and medium businesses across the country.
In addition, Change Capital actively seeks out opportunities to finance businesses that provide impactful, socially responsible, and ethically-produced products and services and those that are owned and successfully operated by minorities, women, veterans of the armed forces, immigrants, and the physically challenged.
Change Capital’s solutions include:
Interim working capital to improve a business’ financial condition in preparation for bank/non-bank financing
Contingent capital availability to take advantage of preferential purchasing or investment opportunities, execute on large or unexpected customer contracts and purchase orders, accelerate growth and expansion opportunities, buyout equity partners, provide liquidity to private equity owners, etc.
Bridges to 3rd party financing, M&A or other liquidity events
Subordinated (mezzanine) financing in conjunction with senior institutional lenders
For additional information, please visit the company’s website at http://www.change.capital or email to info(at)change(dot)capital.