Trinity Capital Inc. Invests $12.5 Million to Propel Upward Health's Growth Strategy
Trinity Capital Inc. Invests in Upward Health
On January 16, 2025, Trinity Capital Inc. (NASDAQ: TRIN), an established alternative asset manager, announced its latest strategic move by committing $12.5 million in growth capital to Upward Health. This investment is a significant component of Upward Health’s ongoing expansion, emphasizing its dedication to providing in-home, multidisciplinary medical care to high-risk patients.
The Mission of Upward Health
Upward Health operates with the mission to improve the quality of life for patients by addressing their unique healthcare needs. The company specializes in delivering 24/7 whole-person care, partnering with health plans and other risk-bearing entities. By focusing on high-risk patients, Upward Health aims to enhance healthcare outcomes, catering to those who often face challenges navigating the healthcare system.
Ranked as the 7th fastest-growing private company in the United States in 2023 by Inc. 5000 and moving up to 6th in 2024, Upward Health's innovative approach has garnered substantial recognition in the healthcare sector.
Insights from Executives
Bob D'Acquisto, Managing Director of Tech Lending at Trinity, shared, "Upward Health's unique approach to healthcare delivery has positioned them as a leader in their space. We’re excited to provide the capital they need to continue to grow their business and amplify their impact." Upward Health’s CEO, Glen Moller, echoed this enthusiasm, stating, "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."
Financial Structure of the Deal
The $12.5 million debt financing from Trinity is part of a broader funding strategy involving an additional $7.5 million from Comerica Bank. This debt was raised concurrently with Upward Health's Series C fundraising round, which was notably led by Heritage Group and Blue Venture Fund, with contributions from Noro-Moseley Partners, among others. The financing aims to underwrite various growth initiatives that Upward Health is set to implement.
About Trinity Capital Inc.
Trinity Capital Inc. has positioned itself as a prominent player in the alternative asset management space. With a focus on private credit markets, it provides investors with stable and consistent returns while collaborating with dynamic, growth-oriented companies. The firm boasts a diversified investment portfolio and aims to support innovative companies looking for tailored financial solutions. Headquartered in Phoenix, Arizona, Trinity Capital is supported by a team of strategically located investment professionals dedicated to fostering growth in the businesses it partners with.
Conclusion
The partnership between Trinity Capital Inc. and Upward Health reflects a shared vision of improving healthcare delivery through innovative financing. By understanding the unique needs of high-risk patients and equipping organizations like Upward Health with the necessary capital, Trinity Capital is playing a crucial role in transforming patient care across the United States. As both companies move forward, their collaborative efforts will not only enhance Upward Health's operational capacity but also set new standards within the healthcare industry.
Topics Health）
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