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Square 1 Bank Provides $4MM Facility to Activate Healthcare

September 24, 2015, 07:21 AM
Filed Under: Healthcare
Related: Square 1 Bank

Square 1 Bank 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."

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."

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.

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