Square 1 Bank Announces Credit Facility to MyHealthDirectJune 6, 2017
Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $4 million credit facility to new client My Health Direct, Inc. (“MyHealthDirect”), a leader in consumer healthcare access solutions. Proceeds from the facility will provide growth and working capital support.
Launched in 2006, MyHealthDirect was established to assist underserved populations identify and establish a primary care provider relationship within their community. The team leveraged this knowledge to create a consumer healthcare access platform, connecting consumers to healthcare systems, providers and payors. With tools such as referral management and online appointment scheduling, the consumer can easily navigate available options and providers in the competitive and complex healthcare market.
“In today’s healthcare environment, patients expect on-the-spot scheduling, and MyHealthDirect is committed to improving the access to and patient engagement of those healthcare appointments,” said Lance Fusacchia, chief financial officer at MyHealthDirect. “We are excited to have Square 1 as our new financial services partner, helping us achieve our initiatives to expand and enhance our solutions as we redefine appointment access and value.”
“MyHealthDirect offers a solution to a universal inconvenience for today’s consumer. The platform empowers users to make real-time decisions on scheduling needs and medical providers and provides helpful information to drive these choices,” added Patrick Cahill, vice president in Square 1’s technology banking practice. “We are excited to work with the team and look forward to supporting their continued growth and success.”
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com.
My Health Direct, Inc. (“MyHealthDirect”) connects patients with the right provider, at the right time, from anywhere. As the leader in consumer healthcare access, MyHealthDirect makes it easy for everyone to interact with the healthcare system. By providing online scheduling, referral management, and enterprise analytics, MyHealthDirect improves healthcare access in over 28 states, partnering with the nation’s largest health systems, providers and payers. MyHealthDirect is (HIPAA) HITRUST certified and is headquartered in Nashville, TN. For more information, visit www.myhealthdirect.com.
Square 1 Bank, a division of Pacific Western Bank