Panacea Financial Announces Partnership with Accountants and Business Advisors (ABA)

Rhea-AI Summary

Panacea Financial, a division of Primis (NASDAQ: FRST), announced a partnership with Accountants and Business Advisors (ABA) to serve over 700 physician practices and more than 4,000 physician clients. This collaboration aims to provide specialized banking solutions tailored to the financial needs of medical professionals. CEO Tyler Stafford emphasized the importance of this partnership in helping doctors navigate financial challenges exacerbated by the COVID-19 pandemic. Both organizations aim to alleviate financial concerns through customized service and competitive banking solutions.

Positive

• Partnership with ABA expands service offerings to 700 physician practices and 4,000 clients.
• Specialized banking solutions cater to the unique financial needs of medical professionals.
• Panacea aims to alleviate financial challenges arising from COVID-19.

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• None.

LITTLE ROCK, Ark., May 24, 2021 /PRNewswire/ -- Panacea Financial (Panacea), a division of Primis that provides financial services for medical students, residents/fellows and attending physicians, today announced a partnership with Accountants and Business Advisors (ABA) as a preferred banking and lending provider to their 700 physician practices and >4,000 physician clients across the country.

Tyler Stafford, CFA, CEO and Co-Founder of Panacea said, "ABA has a strong presence within the physician, dental, and veterinary sectors, and has been a valuable asset in helping doctors navigate the financial challenges brought about by the COVID epidemic. We're proud to announce our partnership with such a trusted organization." 

Panacea is a financial services company created for doctors, by doctors on the premise that traditional banks simply do not understand the financial needs of medical professionals.  Panacea provides tailored product offerings and service delivery designed specifically for physicians throughout their career: from medical school, through residency and fellowship, and into attending practice. 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, medical school loan refinancing, and practice loans.

Bill King, CPA and CEO of ABA said, "We have worked with physicians for over 35 years and understand the difficulties they face every day juggling the key elements of a profitable practice with patient care. We look forward to working with Panacea to help alleviate some of their financial concerns by providing access to specialized and competitive healthcare banking solutions, while offering customized service with a more expedited turnaround than traditional banks."

About Panacea Financial

Panacea Financial, a division of Primis (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 physicians, by physicians.  For more information, please visit www.panaceafinancial.com.
 
About ABA Accountants and Business Advisors

Accountants and Business Advisors, LLC (ABA) stands alone in our experience, industry-specific expertise, and unwavering commitment to maximizing the profit and minimizing the tax burden of our clients–physicians, dentists, veterinarians, and small business owners. Our advisors utilize a national perspective combined with a localized knowledge to craft innovative and comprehensive financial plans that provide our clients with a clear path to reach their short and long-term financial goals.  To learn more please visit https://aba-advisors.com/

Media Contact for Panacea Financial:
Melissa Sheer
media@panaceafinancial.com
917-690-2199

 

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SOURCE Panacea Financial

FAQ

What is the recent partnership announced by Panacea Financial?

Panacea Financial announced a partnership with Accountants and Business Advisors (ABA) to provide specialized banking services to over 700 physician practices.

How does Panacea Financial cater to medical professionals?

Panacea Financial offers tailored banking solutions, including loans and accounts specifically designed for medical professionals throughout their careers.

What is the significance of the partnership for Panacea Financial?

The partnership with ABA enhances Panacea's ability to serve physicians by providing access to competitive banking solutions and targeted financial advice.

When was the partnership between Panacea Financial and ABA announced?

The partnership was announced on May 24, 2021.

Which company does Panacea Financial belong to?

Panacea Financial is a division of Primis, which is publicly traded under the NASDAQ symbol FRST.