A Cincinnati health care technology firm is boosting its financial reserves as its prepares for its next phase of growth.
Downtown-based Halo Health announced Tuesday its received a new credit facility courtesy of Toronto-based Espresso Capital, according to a news release. The size of the credit was undisclosed.
Launched in 2009, Espresso Capital provides non-dilutive funding options to startups, meaning they don't require any equity or ownership shares. The firm has offices in both the U.S. and Canada.
"After exploring a number of financing options, it was clear that Espresso was the best choice," Jose Barreau, Halo Health's co-founder and CEO, said in a statement. "Their flexibility and cost of capital are very attractive, as is the fact that we can expand our relationship going forward."
Halo Health, one of Cincy Inno's Startups to Watch, has been on a hot streak as of late.
What started as a HIPAA-compliant texting application has evolved into much more. Halo's suite of offerings allow for instant access to electronic health records, critical and clinical teams, physician on-call schedules, call centers, labs and directories as well as voice-over-internet-protocol calling. Its roster of customers includes some of the most prestigious hospital systems around the country.
The company recently expanded its C-suite to bring its first-ever chief marketing officer and chief technology officer. According to the news release, both those new hires will play key roles in building the company's brand awareness as it continues to scale.
