DURHAM, N.C., Aug. 4, 2015 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $1.5 million credit facility to new client Azalea Health, a leading cloud-based healthcare IT provider focused on patient engagement and practice management efficiency. Proceeds will be used to support the company's continued growth.
Headquartered in Atlanta, Azalea Health is on a mission to reduce operational complexity for healthcare providers by offering a cost-effective, comprehensive records and billing solution. Azalea is one of the first companies of its kind to offer an electronic health record system with fully integrated telemedicine functionality. The innovative solution increases accessibility and convenience for physicians who choose to offer telehealth services such as video conferencing. Patients can also engage with providers and access records via a secure, cloud-based portal and a mobile application.
"We are very pleased with our new relationship with Square 1 Bank," said Baha Zeidan, chief executive officer of Azalea Health. "The additional line of credit will allow us to continue our organic growth and focus on strategic initiatives. Square 1 Bank has been a great partner throughout the due diligence process, and we are looking forward to both organizations growing together. We are very honored to be working with such a great team."
Zack Mansfield, senior vice president in Square 1's technology practice added, "In the competitive world of healthcare IT, execution is paramount. We were extremely impressed with the leadership of the Azalea Health management team, and look forward to being a strategic financial partner for them as the company continues to grow its market share in the years ahead."
About Azalea Health
Azalea Health is a leading provider of cloud-based healthcare solutions and services. The complete Azalea solution provides Electronic Health Records (EHR) with integrated telehealth functionality, Practice Management (PM) and Revenue Cycle Management (RCM) billing services, as well as a Patient Health Records Portal, a mobile mHealth application and pre-cert services. With a focus on patient engagement, Azalea's integrated solution has the flexibility to accommodate multiple specialties of any size practice, and can immediately improve workflow as well as revenue flow. The Azalea solution also provides tools and resources to help customers meet their Meaningful Use and ICD-10 requirements. For more information, visit www.AzaleaHealth.com or call (877) 777-7686.
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. For more information, visit www.square1bank.com.