Cloud-based EHR developer Practice Fusion establishes long-term credit facility

Practice Fusion, a cloud-based EHR and patient medical record company, now has a warrant for $2.5 million from a long-term credit facility, according to a filing with the SEC. The San Francisco-based startup, headed by CEO Ryan Howard, has more than 112,000 active monthly medical professionals with more than 91 million patient records, the company said. […]

Practice Fusion, a cloud-based EHR and patient medical record company, now has a warrant for $2.5 million from a long-term credit facility, according to a filing with the SEC.

The San Francisco-based startup, headed by CEO Ryan Howard, has more than 112,000 active monthly medical professionals with more than 91 million patient records, the company said. Last year, it launched a consumer-focused platform called Patient Fusion that lets individuals both schedule appointments and access their patient medical record.

Practice Fusion would not say if $2.5 million was the total amount of the long-term credit facility. This LTCF allows a company to generate capital over an extended time frame. These credit lines can be broken into multiple parts or used as collateral. The LTCF is often used in conjunction with other fundraising, but Practice Fusion would not say if this was how the LTCF was being used.

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A Deep-dive Into Specialty Pharma

A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.

Recently, Practice Fusion announced a partnership with three healthcare organizations in Puerto Rico — ASSERTUS, Atlantic Pathology and HRP Labs.