DrFirst, a 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.
New Funds Will Support Expansion Initiatives in 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.”