Trinity Capital Inc. Provides $12.5 Million in Growth Capital to Upward Health
Trinity Capital (NASDAQ: TRIN) has committed $12.5 million in growth capital to Upward Health, an in-home healthcare provider specializing in 24/7 whole-person care for high-risk patients. The funding is part of a larger debt financing package that includes an additional $7.5 million from Comerica Bank, alongside a Series C fundraise led by Heritage Group and Blue Venture Fund.
Upward Health, ranked 7th on the 2023 Inc. 5000 list and 6th in 2024 among fastest-growing private U.S. companies, will use the capital to fund growth initiatives, expand coverage area, and refine their care model. The company partners with health plans and risk-bearing entities to improve health outcomes and quality of life for high-need patients.
Trinity Capital (NASDAQ: TRIN) ha impegnato 12,5 milioni di dollari in capitale per la crescita a favore di Upward Health, un fornitore di assistenza sanitaria domiciliare specializzato nella cura integrale 24 ore su 24 per pazienti ad alto rischio. Il finanziamento fa parte di un pacchetto di finanziamento a debito più ampio che include ulteriori 7,5 milioni di dollari da Comerica Bank, insieme a una raccolta di fondi di Serie C guidata da Heritage Group e Blue Venture Fund.
Upward Health, classificata al 7° posto nella lista Inc. 5000 del 2023 e al 6° nel 2024 tra le aziende private statunitensi a più rapida crescita, utilizzerà il capitale per finanziare iniziative di crescita, espandere l'area di copertura e perfezionare il proprio modello di assistenza. L'azienda collabora con piani sanitari e enti con assunzione di rischio per migliorare gli esiti di salute e la qualità della vita per i pazienti con maggiori necessità.
Trinity Capital (NASDAQ: TRIN) ha comprometido 12,5 millones de dólares en capital de crecimiento para Upward Health, un proveedor de atención médica en el hogar especializado en atención integral 24/7 para pacientes de alto riesgo. La financiación es parte de un paquete de financiación de deuda más grande que incluye otros 7,5 millones de dólares de Comerica Bank, junto a una recaudación de fondos de Serie C liderada por Heritage Group y Blue Venture Fund.
Upward Health, clasificada en el 7º lugar de la lista Inc. 5000 de 2023 y en el 6º en 2024 entre las empresas privadas de más rápido crecimiento en EE. UU., utilizará el capital para financiar iniciativas de crecimiento, expandir su área de cobertura y perfeccionar su modelo de atención. La empresa se asocia con planes de salud y entidades asumiendo riesgos para mejorar los resultados de salud y la calidad de vida de los pacientes con mayores necesidades.
트리니티 캐피탈 (NASDAQ: TRIN)는 업워드 헬스에 1250만 달러의 성장 자본을 약정했습니다. 업워드 헬스는 고위험 환자를 위한 24시간 전인적 치료를 전문으로 하는 가정 의료 제공업체입니다. 이번 자금 조달은 Comerica Bank로부터 추가로 750만 달러가 포함된 더 큰 부채 자금 조달 패키지의 일환입니다. 이 패키지는 Heritage Group과 Blue Venture Fund가 주도하는 시리즈 C 자금 조달을 포함합니다.
업워드 헬스는 2023년 Inc. 5000 목록에서 7위, 2024년 가장 빠르게 성장하는 미국 민간 기업 중 6위에 올랐으며, 이 자본을 사용하여 성장 이니셔티브를 자금 지원하고, 서비스 지역을 확장하며, 치료 모델을 개선할 것입니다. 이 회사는 건강 계획 및 위험 인수 기관과 협력하여 건강 결과와 고위험 환자의 삶의 질을 향상시킵니다.
Trinity Capital (NASDAQ: TRIN) a engagé 12,5 millions de dollars en capital de croissance pour Upward Health, un fournisseur de soins de santé à domicile se spécialisant dans des soins globaux 24/7 pour les patients à haut risque. Ce financement fait partie d'un plus grand ensemble de financements par emprunt incluant également 7,5 millions de dollars de Comerica Bank, aux côtés d'une collecte de fonds de Série C dirigée par Heritage Group et Blue Venture Fund.
Upward Health, classée 7ème sur la liste Inc. 5000 de 2023 et 6ème en 2024 parmi les entreprises privées américaines à la croissance la plus rapide, utilisera ce capital pour financer des initiatives de croissance, étendre sa zone de couverture et affiner son modèle de soins. L'entreprise collabore avec des plans de santé et des entités à risque pour améliorer les résultats de santé et la qualité de vie des patients ayant des besoins élevés.
Trinity Capital (NASDAQ: TRIN) hat 12,5 Millionen Dollar an Wachstumskapital für Upward Health, einen Anbieter von häuslicher Gesundheitsversorgung, der sich auf 24/7 umfassende Betreuung für Hochrisikopatienten spezialisiert hat, bereitgestellt. Die Finanzierung ist Teil eines größeren Schuldenfinanzierungspakets, das zusätzlich 7,5 Millionen Dollar von der Comerica Bank sowie eine Serie-C-Finanzierungsrunde unter der Leitung von Heritage Group und Blue Venture Fund umfasst.
Upward Health, die im Jahr 2023 den 7. Platz auf der Inc. 5000 Liste belegt und 2024 den 6. Platz unter den am schnellsten wachsenden privaten US-Unternehmen einnimmt, wird das Kapital nutzen, um Wachstumsinitiativen zu finanzieren, das Abdeckungsgebiet zu erweitern und ihr Versorgungsmodell zu verfeinern. Das Unternehmen arbeitet mit Gesundheitsplänen und risikobehafteten Einrichtungen zusammen, um die gesundheitlichen Ergebnisse und die Lebensqualität von Patienten mit hohem Bedarf zu verbessern.
- Secured $12.5 million lending deal with high-growth healthcare company
- Part of larger financing package indicating strong deal flow
- Target company shows strong growth (ranked 6th and 7th in Inc. 5000)
- None.
Insights
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From an investment perspective, this deal strengthens Trinity Capital's portfolio in the healthcare technology space while providing a steady income stream through debt servicing. The structure of the financing - combining debt with equity from reputable investors like Heritage Group and Blue Venture Fund - suggests a well-balanced capital stack that should support Upward Health's expansion without excessive dilution of existing shareholders.
For Trinity Capital shareholders, this investment aligns with the company's strategy of providing growth capital to promising technology companies while generating predictable returns through secured lending. The healthcare sector, particularly companies focused on reducing costs through innovative care delivery models, presents significant growth opportunities amid the ongoing transformation of healthcare services.
Upward Health's in-home, multidisciplinary care model targeting high-risk, high-need patients addresses a critical gap in healthcare delivery. Their focus on 24/7 whole-person care aligns with industry trends toward value-based care and reduced hospitalizations. The company's partnership model with health plans and risk-bearing entities positions them to benefit from the shift away from fee-for-service models.
The capital injection will enable geographical expansion and care model refinement, potentially increasing their market share in the rapidly growing home healthcare sector. Their approach to managing complex patients through comprehensive in-home care could lead to significant cost savings for healthcare payers while improving patient outcomes. This business model is particularly relevant given the aging population and increasing preference for home-based care solutions.
The backing from established healthcare investors like Heritage Group and Blue Venture Fund, combined with Trinity's financing, provides strong validation of their care delivery model and growth strategy. Their consecutive top rankings on the Inc. 5000 list indicate exceptional revenue growth, suggesting successful execution and market acceptance of their services.
The company partners with health plans and other risk-bearing entities to address the unique needs of high-risk, high-need patients, delivering care that aims to improve health outcomes and quality of life. Upward Health was ranked number 7 on the 2023 Inc. 5000 list of the fastest-growing private companies in
"Upward Health's unique approach to healthcare delivery has positioned them as a leader in their space," said Bob D'Acquisto, Managing Director, Tech Lending at Trinity. "We're excited to provide the capital they need to continue to grow their business and amplify their impact."
The
"We're excited to partner with Trinity Capital as we enter this next phase of growth," said Glen Moller, CEO of Upward Health. "Trinity's support will be instrumental as we expand our coverage area, refine our care model, and ultimately, improve the quality of life for more patients across the country."
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN) is an international alternative asset manager, aiming to provide investors with stable and consistent returns through access to the private credit market. We source, vet, and invest in dynamic privately funded growth-oriented companies, giving our investors access to a strong and diversified portfolio. With distinct business verticals, Trinity Capital stands as a trusted partner for innovative companies seeking tailored growth capital solutions. Headquartered in
About Upward Health
Upward Health is an in-home multidisciplinary provider that partners with health plans and other risk-bearing entities to address the unique needs of the most high-risk, high-need users of the healthcare system today. Using a unique, in-home community-based approach to meeting a patient's needs, Upward Health facilitates and delivers care that improves outcomes and the quality of life for every patient it serves. Upward Health has a measured Net Promoter Score of 86, among the highest in the healthcare industry.
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SOURCE Trinity Capital Inc.
FAQ
How much growth capital did Trinity Capital (TRIN) commit to Upward Health in January 2024?
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Who led Upward Health's Series C fundraising round alongside Trinity Capital's (TRIN) debt financing?
