Horizon Technology Finance Provides $17 Million Venture Loan Facility to Robin Healthcare
Horizon Technology Finance Corporation (NASDAQ: HRZN) has announced a $17 million venture loan facility to Robin Healthcare, Inc., securing an initial funding of $7 million. This funding will support Robin's innovative healthcare management system, which utilizes AI to enhance doctor-patient interactions by streamlining data entry and clinical note creation. Robin aims to allow physicians to focus more on patient care while improving coding accuracy for payors. The collaboration is expected to drive growth for both companies.
- Approved a $17 million venture loan facility to Robin Healthcare.
- Initial funding of $7 million will support Robin's operations and growth.
- Robin's technology aims to improve efficiency in healthcare management.
- None.
FARMINGTON, Conn., Oct. 24, 2022 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a
Robin is changing the administration of healthcare enabling doctors to spend more time with patients, and to more efficiently manage their practices. Robin's proprietary device, the Robin Assistant™, silently observes physician-patient visits while remote scribes – powered by AI and trained by over one million patient visits – extracts data, identifies conditions, then builds and uploads clinical notes with medical codes, all directly to the electronic health record. Robin is backed by a consortium of well-known investors including Scale Venture Partners, Khosla Ventures, Norwest Venture Partners, and Meridian Street Ventures. The company will use the loan proceeds for general corporate and working capital purposes.
"Robin is transforming how doctors practice medicine and interact with patients," said Gerald A. Michaud, President of Horizon. "Thanks to the Robin Assistant, doctors are seamlessly recording accurate information, enabling doctors to save valuable time previously spent on manually inputting data. We are excited to be an important part of the company's continued growth."
"We appreciate Horizon's support as we continue to execute on our business plan," said Emilio Galán, Chief Executive Officer of Robin. "Robin gives patients peace of mind; physicians freedom of focus, and payors and practices measurably more accurate coding."
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Horizon is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Austin, Texas, Chicago, Illinois, Reston, Virginia and Portland, Maine. To learn more, please visit horizontechfinance.com.
About Robin
Robin is changing the administration of orthopedic healthcare enabling doctors to spend more time with patients, and to more efficiently manage their practices. Robin's proprietary device, the Robin Assistant™ – powered by AI trained by over one million patient visits and supported by HIPAA-compliant U.S. based remote scribes – extracts data, identifies conditions, and builds and uploads clinical notes with medical codes, all directly to the EHR. Robin gives patients peace of mind; physicians freedom of focus; payors and practices measurably more accurate coding, and our health system, a new abundance of time to return to its focus on prevention, treatment, and well being. For more information on how Robin is improving workflows and improving care, please visit www.robinhealthcare.com.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Company's filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contacts:
Investor Relations:
ICR
Garrett Edson
ir@horizontechfinance.com
(860) 284-6450
Media Relations:
ICR
Chris Gillick
HorizonPR@icrinc.com
(646) 677-1819
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SOURCE Horizon Technology Finance Corporation
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