MORRISVILLE, N.C. A new senior secured term loan with an aggregate principal amount of USD 22.5 million has been entered into, according to NantHealth, Inc. (NASDAQ-GS: NH), a top supplier of enterprise solutions that assist organizations in turning complex data into actionable insights. The Company will use the revenues for general corporate objectives and to keep sustaining its current activities. Highbridge Capital Management, LLC and Nant Capital, LLC, two current NantHealth investors, provided the money for the Term Loan Facility.
“Augmented intelligence and the era of digital medicine have finally come. In promoting evidence-based, affordable care to treat the appropriate patient at the right time and place, NantHealth has taken the lead. Technology advancements in artificial intelligence and network computing speed have now reached a point where they can significantly improve 21st-century healthcare. In this healthcare transition period, we are grateful for NantHealth’s ongoing support, stated Dr. Patrick Soon-Shiong, Chairman and CEO of NantHealth.
“The age of digital medicine and augmented intelligence is here. NantHealth has promoted evidence-based, cost-effective care to serve the right patient at the right time and location. Artificial intelligence and network computing speed developments have now reached a position where they can considerably advance healthcare in the twenty-first century. Dr. Patrick Soon-Shiong, Chairman and CEO of NantHealth, said, “We appreciate NantHealth’s continuous assistance during this time of healthcare change.
We are delighted to continue our investment in NantHealth, said Jonathan Segal, Co-Chief Investment Officer of Highbridge. The funding will be used to support NantHealth’s continuing operations, fund the development of SaaS capabilities, and support future growth efforts that should be advantageous to the firm as a whole, including its clients and other stakeholders.
After carefully examining the Credit Agreement, Term Loan Facility, and related transaction documentation, a Special Committee of the NantHealth Board of Directors, made up of disinterested independent directors, unanimously recommended that NantHealth move through with the transaction.
As a part of the NantWorks ecosystem, NantHealth offers enterprise solutions that assist organizations in converting complex data into valuable insights. NantHealth allows companies in the healthcare, life sciences, logistics, telecommunications, and other sectors to automate, comprehend, and act on data while keeping it safe and scalable by providing practical ways to transport, interpret, and display detailed and susceptible information. The newest technology in payer/provider collaboration platforms for real-time coverage decision support (Eviti and NaviNet) is included in NantHealth’s product range and data solutions that enable multi-data analysis, reporting, and professional services (Quadris).
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