TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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How to be a Good Leader
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A Commercial Banker’s Tickler Transition Plan
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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October 21, 2024
Source: PR Newswire
NEW YORK, Oct. 18, 2024 /PRNewswire/ -- Turning Rock Partners ("TRP" or "Turning Rock"), a private investment firm based in New York, announced the realization of its $45 million investment in MedShift (the "Company"). The Company is a founder owned and led medical technology software provider based in Charlotte, NC. Turning Rock's structured loan to the Company was fully realized through a full payoff of its obligations as the Company shifts to long term capital for growth.
"Turning Rock is pleased to announce that MedShift has accomplished a new round of institutional debt financing that will drive its growth for the future," said Turning Rock Senior Managing Director Erin Andrew. "We were pleased to partner with the Company on its expanding equipment and technology investments. Its next phase of growth will be driven by its exceptional management team. Our model of providing transitional capital to growing founder led companies was demonstrated here."
Turning Rock Partners targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape.
"We thank Turning Rock for its support which enabled us to expand our investments in technology and team to realize strong growth," said MedShift CEO Joe Gasque.
Turning Rock's structured loan to the Company was contributed in April of 2023 as part of a broader $108M financing round led by management and existing shareholders.
About Turning Rock Partners:
Turning Rock Partners (TRP) targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners' website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.
About MedShift:
Founded in 2015 and headquartered in Charlotte, NC, MedShift leads the healthcare sector with innovative SaaS solutions aimed at transforming medical manufacturing. At the core of MedShift's success is its robust Software offerings, designed to empower the industry with cutting-edge tools for operational efficiency and growth. Through platforms like Velocity, a comprehensive SaaS solution, and Pulse IoT, a connected device ecosystem, MedShift leverages data and technology to enhance business performance and streamline workflows.
Media Contact:
Kate Shepherd, Kate@KateShepherdCommunications.com