Panacea Financial Announces Launch of Panacea Practice Solutions

Rhea-AI Summary

On July 27, 2021, Panacea Financial, a division of Primis, announced the launch of Panacea Practice Solutions (PPS), expanding its services for healthcare providers. Led by new Head of Practice Solutions, Brandon Finazzo, PPS will offer various financial products, including partner buy-in and working capital loans. The initiative aims to streamline banking for medical professionals, aligning with the company's commitment to understanding their unique financial needs. Panacea Financial serves clients across all 50 states, emphasizing tailored banking solutions for doctors.

Positive

• Launch of Panacea Practice Solutions expands financial offerings for healthcare professionals.
• Brandon Finazzo, with extensive experience in healthcare commercial lending, leads the new division.
• PPS will provide a diverse suite of business products tailored to the needs of medical, dental, and veterinary clients.

Negative

• None.

LITTLE ROCK, Ark., July 27, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis that provides financial services for doctors-in-training and practicing doctors, today announced the launch of Panacea Practice Solutions ("PPS") as the commercial division of Panacea. Additionally, industry veteran Brandon Finazzo has joined the Company as the Head of Practice Solutions.

Panacea Practice Solutions will offer a full suite of business products including partner buy-in, acquisition, expansion, start-up, real estate, and working capital loans, as well as business deposits and treasury management services for medical, dental, and veterinary clients across the country.

Mr. Finazzo has worked in the Healthcare Industry since 2008, with over a decade in commercial lending and credit experience. He joins PPS from Wells Fargo Bank Healthcare Industries group, where he was Regional Healthcare Manager, successfully managing and growing California, Arizona and most recently Texas. Prior to Wells Fargo, Mr. Finazzo was Market Vice President, Citi Practice Finance Group, where he helped roll out a new Practice Finance Division for Citi in northern California. Mr. Finazzo was also Assistant Vice President at US Bank, where he developed and sourced financial solutions for new and existing healthcare clients of US Bank.  Brandon has a passion for connecting with trainees to assist them with the preparation for Practice ownership.

Tyler Stafford, CFA, CEO and Co-Founder of Panacea said, "Our commercial expansion is a natural evolution of Panacea and is a strong compliment to the products and services we're currently offering to our consumer customer base. We're thrilled to have Brandon join our leadership team as the Head of Panacea Practice Solutions. Brandon's strong technical expertise, deep industry relationships, and proven leadership abilities have been evident over his career and we're excited about what we can accomplish under his direction.  

Mr. Finazzo stated "I'm ecstatic and proud to join Panacea. With two of the founders serving the community as practicing physicians, Panacea truly understands the financial needs of healthcare professionals. It's about making the lending and banking process easier and more efficient for the doctor so they can spend more time with patients, and that's what we are committed to doing."

About Panacea Financial

Panacea Financial, a division of Primis Financial Corp. (NASDAQ: FRST), is a nationwide financial services company offering products in all 50 states as well as Washington, D.C. and Puerto Rico. Panacea offers a full suite of banking solutions specifically built for doctors, by doctors.  Panacea provides tailored product offerings and service delivery designed specifically for doctors throughout their career. Through the Panacea Financial Foundation, their non-profit arm, they have dedicated funding to expand the ethnic and racial diversity of the medical field.  Panacea's products cover the full suite of banking needs for this unique population, including checking and savings accounts, PRN personal loans, student debt refinancing, and practice loans.

For more information, please visit www.panaceafinancial.com.

Media Contact for Panacea Financial:
media@panaceafinancial.com

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SOURCE Panacea Financial

FAQ

What is the purpose of Panacea Practice Solutions launched by Panacea Financial?

Panacea Practice Solutions aims to offer a comprehensive suite of financial products for medical, dental, and veterinary professionals, including loans and treasury management services.

Who is the Head of Practice Solutions for Panacea Financial?

Brandon Finazzo has been appointed as the Head of Practice Solutions at Panacea Financial.

When was Panacea Practice Solutions announced?

Panacea Practice Solutions was announced on July 27, 2021.

What type of services does Panacea Practice Solutions offer?

PPS offers partner buy-in, acquisition, expansion, startup loans, and other banking services tailored for healthcare professionals.

What is the stock symbol for Panacea Financial?

The stock symbol for Panacea Financial is FRST.