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First National Bank Closes $13.5MM Financing for MedShift

November 11, 2019, 08:00 AM
Filed Under: Medical

MedShift announced the execution of a new $13.5 million credit facility with First National Bank.

The investment will refinance all existing company loans and provide device acquisition capital to support MedShift’s growth.

“FNB’s group of Charlotte Business Bankers have demonstrated great flexibility which enables us to continue serving our clients and innovating our unique medical technologies,” MedShift CEO Brian Phillips said.

MedShift’s portfolio spans more than 12 state-of-the-art medical devices, four sister brands and more than 200 partner practices across the U.S. The company announced its expansion into Australia and New Zealand earlier this year, in addition to a number of connected device software updates.

The med-tech innovator is expected to release the details of further extensions of its business units before the year’s end. MedShift tapped Bundy Group to facilitate the debt raise process.

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