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CIBC Innovation Banking Leads $45MM Syndicated Debt Facility for Azalea Health

December 16, 2022, 07:55 AM
Filed Under: Technology

CIBC Innovation Banking announced the lead arrangement of a $45 million syndicated debt financing for Atlanta-based Azalea Health, a leading provider of electronic health records and revenue cycle management for community-based healthcare providers.

Azalea’s fully cloud-based SaaS solution provides electronic health records integrated with telehealth functionality, revenue cycle management, and mobile health applications. The platform delivers tangible value to customers through lower total costs, shorter implementations, better configurability, and an improved user experience. Azalea serves a variety of ambulatory, inpatient, and specialty care settings, with a focus on helping underserved healthcare providers in the U.S.

"Azalea has been on an upward path of growth, and with CIBC Innovation Banking we will continue to grow and serve our amazing customers. We are grateful to have the team's support,” said Baha Zeidan, founder and CEO of Azalea.

“CIBC Innovation Banking has shown its capabilities to scale with growing software businesses and deliver tailored financing solutions," said Andy Kirk, Managing Director in CIBC Innovation Banking’s Atlanta office. “We look forward to working with the Azalea Health team as they continue to scale their business and help improve patient care across the U.S.”

Azalea was awarded the Best Electronic Health Record Solution designation at the 2021 MedTech Breakthrough Awards Program.

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