TLDR:
- Vesta Healthcare, a tech-enabled clinical services company, received a $35M venture loan facility from Horizon Technology Finance.
- The loan proceeds will be used for general growth and working capital purposes.
Vesta Healthcare, also known as Hometeam Technologies, Inc., based in NYC, secured a $35M venture loan facility from Horizon Technology Finance. Of this amount, $25M has already been funded. The company, led by CEO Randy Klein, focuses on integrating caregivers, patients, and the healthcare delivery system to monitor chronic conditions of high-risk patients. Their services aim to enhance patients’ quality of life and improve their health outcomes by reducing hospital admissions and emergency visits through 24/7 clinical support and advanced analytics. This, in turn, helps minimize unnecessary care utilization, leading to significant cost savings.
Vesta Healthcare is backed by various investors, including RA Capital Management, Oak HC/FT, Chrysalis Ventures, Kaiser Permanente Ventures, Lux Capital, and Deerfield Management. Horizon Technology Finance Corporation, an affiliate of Monroe Capital, is a specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries.
