Trinity Capital, a leading alternative asset manager, announced the commitment of $12.5 million in growth capital to Upward Health, an in-home, multidisciplinary medical group providing 24/7 whole-person care.
The company partners with health plans and risk-bearing entities to address the unique needs of high-risk and high-need patients, delivering care that aims to improve health outcomes and quality of life.
The $12.5 million debt financing from Trinity is part of a larger debt financing, including an additional $7.5 million from Comerica Bank. The debt was raised with the company’s Series C fundraising, led by Heritage Group and Blue Venture Fund, with additional investments from Noro-Moseley Partners and others. The capital will be used to fund growth initiatives.
KEY QUOTES:
“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.”
– Bob D’Acquisto, Managing Director, Tech Lending at Trinity
“We’re excited to partner with Trinity Capital as we enter this next phase of growth. 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.”
– Glen Moller, CEO of Upward Health
