Trinity Capital Inc. Provides $12.5 Million in Growth Capital to Upward Health
Rhea-AI Summary
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.
Positive
- 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)
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, TRIN gained 0.62%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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?
What is the total debt financing package received by Upward Health including Comerica Bank's contribution?
What was Upward Health's ranking on the Inc. 5000 list in 2023 and 2024?
How will Upward Health use the growth capital from Trinity Capital (TRIN)?
Who led Upward Health's Series C fundraising round alongside Trinity Capital's (TRIN) debt financing?
