CHARLOTTE, N.C., Oct. 30, 2019 /PRNewswire-PRWeb/ -- MedShift today announced the execution of a new $13.5 million credit facility with First National Bank (FNB). The investment will refinance all existing company loans and provide device acquisition capital to support MedShift's projected growth.
"FNB's group of Charlotte Business Bankers have demonstrated great flexibility which enables us to continue serving our clients and innovating our unique medical technologies," stated Brian Phillips, MedShift CEO.
MedShift's current portfolio spans more than twelve state-of-the-art medical devices, four sister brands and more than 200 partner practices across the United States. The company announced its expansion into Australia and New Zealand earlier this year, in addition to a number of connected device software updates. The med-tech innovator is expected to release the details of further extensions of its business units before the year's end. MedShift tapped Charlotte-based investment banker Bundy Group to facilitate the debt raise process.
About MedShift:
MedShift, founded in 2015 in Charlotte, NC delivers platform as a service to both medical device manufacturers as well as individual medical practices. Foundationally MedShift enables access to the latest devices and technology to remain competitive and attract new business. MedShift has partnered with over 250 providers in North America, Australia, and New Zealand to give practices the latest in cutting-edge treatment modalities, services, and systems.
MedShift is disrupting the traditional aesthetic device market by offering permanent placement, holistic subscription services for surgeons, physicians and their business. MedShift's broad portfolio of services for practices includes a portfolio of 15 leading aesthetic medical devices from six manufacturers, an aesthetic eCommerce and subscription platform, in-house communications and marketing services, and inbound lead generation. For manufacturers MedShift delivers a highly secure IoT platform consisting of both hardware and software assets allowing for real time visibility, remote management, and big data modeling of entire medical device lineups. MedShift adds value across manufacturer and provider spectrum and continues to empower robust integration with leading brands and doctors in the industry. Corporation website at http://www.medshift.com
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company operating in seven states and the District of Columbia. FNB's market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; and Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina. The Company has total assets of nearly $34 billion and approximately 380 banking offices throughout Pennsylvania, Ohio, Maryland, West Virginia, North Carolina and South Carolina.
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate, First National Bank of Pennsylvania, founded in 1864. Commercial banking solutions include corporate banking, small business banking, investment real estate financing, government banking, business credit, capital markets and lease financing. The consumer banking segment provides a full line of consumer banking products and services, including deposit products, mortgage lending, consumer lending and a complete suite of mobile and online banking services. FNB's wealth management services include asset management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders
and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at http://www.fnbcorporation.com.
SOURCE MedShift
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