MINNEAPOLIS, Sept. 23, 2015 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $4 million credit facility to new client Activate Healthcare, a leading provider of workplace health clinics that is encouraging employees to take charge of their health and employers to take charge of their healthcare costs. Proceeds will be used to support the company's continued growth.
Founded in 2009, Activate Healthcare delivers quality primary care and health coaching services at or near employer office locations. Clinics may be operated for a single employer or shared among multiple employers. They are open at least 40 hours per week and have full-time physicians and wellness coaches on staff. By promoting employee healthcare engagement via on- or near-site primary care clinics, Activate Healthcare improves patient satisfaction while helping employers lower their healthcare costs and maximize worker productivity. Activate Healthcare's one-on-one health coaching services and online resources also empower patients to achieve their personal health goals.
"This credit facility will assist us in continuing to provide outstanding quality of care to all of our patients, while growing our leading on-site primary care model across the U.S.," said Peter Dunn, Activate Healthcare principal and co-founder. "We are delighted to collaborate with Square 1 Bank as we continue to grow our business."
"Adding value to our partner organizations by generating significant cost savings and enabling a healthier workforce are tangible results of the important work we are doing to transform health care," added Debra Geihsler, principal and co-founder of Activate Healthcare. "We are empowering physicians to develop long-term relationships with patients, provide preventive care, educate patients and activate them to take control of their health."
Nick Honigman, vice president in Square 1 Bank's Midwest life sciences practice, said, "We are excited to support the Activate Healthcare team in their mission to transform healthcare in the United States. Debra and Peter's dedication and innovative approach have already earned impressive results at their 20+ clinics in the Midwest. Square 1 is pleased to support their continued expansion."
About Activate Healthcare, LLC
Activate Healthcare ranked 441 on the 2015 Inc. 5000 list of the fastest-growing private companies in America, with three-year sales growth of 1,064%. The company activates patients to take charge of their own health by delivering proactive, preventive primary care at or near an employer's location. Headquartered in Indianapolis, Indiana, it was formed in 2009 by Debra Geihsler and Peter Dunn. The goal of Activate Healthcare is to transform health care by delivering primary care that engages the patient, guides the health care continuum to lower costs, fosters a culture of health, integrates data to help proactively manage patient outcomes, empowers providers to enhance the delivery of quality, individualized care and enables employers of all sizes to benefit from dedicated care. The company currently serves approximately 50 employers through 24 clinics, with three more scheduled to open by early 2016. For more information about Activate Healthcare, please visit www.activatehealthcare.com.
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. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. For more information, visit www.square1bank.com.
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Source:Square 1 Financial