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DrFirst Structures a New $17 Million Commercial Financing Facility with SunTrust
ROCKVILLE, Md., April 23, 2019 /PRNewswire/ -- DrFirst, the nation's leading provider of e-prescribing, price transparency, and medication management solutions, announced today that it has structured a new $17 million commercial financing facility with SunTrust Banks, Inc. The financing extends DrFirst's strategic relationship with SunTrust Banks, a partnership which initially began in 2015.
"We are truly thrilled about our continued relationship with DrFirst," said Greg Brouillette, senior vice president of the Maryland Commercial Banking Team at SunTrust Banks, Inc. "We believe in the company and all it is doing as leaders in healthcare IT. Since we began working together in 2015, DrFirst has always been a great business that has continued to grow in terms of product set and market share. This transaction will strengthen our relationship further. As a top leading bank, we are proud of the long-term relationship we have with DrFirst and look forward to supporting its continued growth and positive impact on the market."
The new funds will support the expansion of DrFirst's operational and development efforts for initiatives targeting the pharma and consumer sectors.
"We value our strong, ongoing relationship with SunTrust, who continues to be an excellent partner in terms of providing attractive financing alternatives and giving us access to a wealth of expertise on the health IT market through their extensive resource network," said G. Cameron Deemer, president of DrFirst. "Since first partnering with SunTrust in 2015, we've experienced significant growth and been able to pay down our prior obligations. DrFirst was able to structure a new commercial financing facility with SunTrust Bank on attractive terms -- we viewed this as a favorable time to refuel our cash reserves to support our growth and strategic initiatives in new vertical markets."
DrFirst, the nation's leading provider of e-prescribing, price transparency, and medication management solutions, enables stakeholders across the healthcare industry to use comprehensive real-time data and connectivity to increase their patient safety ratings, efficiency, and profitability. Today, more than 220,000 healthcare professionals, 75,000 prescribers, and hundreds of electronic health record (EHR) vendors depend on DrFirst's innovative software solutions to improve clinical workflows, expedite secure collaboration across a patient's care team and drive better health outcomes. The company's integrated technologies include its award-winning electronic prescribing platform, the most comprehensive medication history available, clinically specialized secure messaging, and patient medication adherence monitoring and benefits checking. Also, DrFirst was the first to offer e-prescribing for controlled substances (EPCS) and is considered the industry standard for providers nationwide. For more information, please visit www.drfirst.com or connect with us @DrFirst.
About SunTrust Banks, Inc.
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of March 31, 2019, SunTrust had total assets of $220 billion and total deposits of $162 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Learn more at suntrust.com.
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