Triangle based health data firm closes on $22.5M in new financing

RESEARCH TRIANGLE PARK – NantHealth, which focuses on utilization of “complex data” for customers to create “actionable insights,” has closed on $25.5 million in the form of a loan.

Here are the details as announced Monday:

NantHealth Announces $22.5 Million New Financing with Highbridge and Nant Capital

MORRISVILLE – NantHealth, Inc. (NASDAQ-GS: NH), a leading provider of enterprise solutions that help businesses transform complex data into actionable insights, today announced the entry into a credit agreement for a new senior secured term loan in an aggregate principal amount of $22.5 million. The company intends to use the proceeds to continue funding its existing businesses and for general corporate purposes. The Term Loan Facility was funded by two existing NantHealth investors: Highbridge Capital Management, LLC and Nant Capital, LLC.

“The era of digital medicine and augmented intelligence has finally arrived. NantHealth has stood at the forefront of driving evidence based, low cost care to treat the right patient at the right time and the right place. Artificial intelligence and the speed of network computing has reached a level of technological development that can now truly benefit 21st century care. We are pleased at the continued support of NantHealth at this transformational time in healthcare,” said Dr. Patrick Soon-Shiong, Chairman and CEO, NantHealth.

“This investment will enable us to continue the momentum we have generated over the past year,” said Ron Louks, NantHealth’s Chief Operating Officer. “The transaction proceeds provide us with the financial resources to invest in our established solutions, NaviNet and Eviti, and our subsidiary, The OpenNMS Group, Inc. We thank our financing partners at Highbridge, NantCapital and our founder Dr. Patrick Soon-Shiong for their continued support.”

Jonathan Segal, Co-Chief Investment Officer of Highbridge, said, “We are very pleased to continue our investment in NantHealth. The financing is intended to support NantHealth’s ongoing business, finance the ongoing expansion of SaaS capabilities, and fund future growth initiatives that should benefit the Company and its customers and stakeholders.”