NantHealth Announces $22.5 Million New Financing with Highbridge and Nant Capital
06 3월 2023 - 11:00PM
Business Wire
NantHealth, Inc. (NASDAQ-GS: NH), a leading provider of
enterprise solutions that help businesses transform complex data
into actionable insights, today announced the entry into a credit
agreement for a new senior secured term loan in an aggregate
principal amount of $22.5 million. The company intends to use the
proceeds to continue funding its existing businesses and for
general corporate purposes. The Term Loan Facility was funded by
two existing NantHealth investors: Highbridge Capital Management,
LLC and Nant Capital, LLC.
“The era of digital medicine and augmented intelligence has
finally arrived. NantHealth has stood at the forefront of driving
evidence based, low cost care to treat the right patient at the
right time and the right place. Artificial intelligence and the
speed of network computing has reached a level of technological
development that can now truly benefit 21st century care. We are
pleased at the continued support of NantHealth at this
transformational time in healthcare,” said Dr. Patrick Soon-Shiong,
Chairman and CEO, NantHealth.
“This investment will enable us to continue the momentum we have
generated over the past year,” said Ron Louks, NantHealth’s Chief
Operating Officer. “The transaction proceeds provide us with the
financial resources to invest in our established solutions, NaviNet
and Eviti, and our subsidiary, The OpenNMS Group, Inc. We thank our
financing partners at Highbridge, NantCapital and our founder Dr.
Patrick Soon-Shiong for their continued support.”
Jonathan Segal, Co-Chief Investment Officer of Highbridge, said,
“We are very pleased to continue our investment in NantHealth. The
financing is intended to support NantHealth’s ongoing business,
finance the ongoing expansion of SaaS capabilities, and fund future
growth initiatives that should benefit the Company and its
customers and stakeholders.”
A Special Committee of the NantHealth Board of Directors,
consisting of disinterested independent directors, undertook a
thorough review of the Credit Agreement, Term Loan Facility and
related transaction documents, and unanimously recommended that
NantHealth proceed with the transaction.
About NantHealth, Inc.
NantHealth, a member of the NantWorks ecosystem of companies,
provides enterprise solutions that help businesses transform
complex data into actionable insights. By offering efficient ways
to move, interpret and visualize complex and highly sensitive
information, NantHealth enables customers in healthcare, life
sciences, logistics, telecommunications and other industries to
automate, understand and act on data while keeping it secure and
scalable. NantHealth’s product portfolio comprises the latest
technology in payer/provider collaboration platforms for real-time
coverage decision support (Eviti and NaviNet), and data solutions
that provide multi-data analysis, reporting and professional
services offerings (Quadris). The OpenNMS Group, Inc., a NantHealth
subsidiary, helps businesses monitor and manage network health and
performance. For more information, visit nanthealth.com, follow us
on Twitter, Facebook, LinkedIn and YouTube, and subscribe to our
blog.
Forward Looking Statement
In addition to historical information, this Current Report on
Form 8-K contains or may imply forward-looking statements within
the meaning of the federal securities laws, such as any implication
regarding the Company’s ability to comply with the restrictions
imposed by the Credit Agreement and other financing arrangements
and expectations for the Company after closing of the Term Loan
Facility. Such forward-looking statements include projections
regarding the Company’s beliefs and expectations about future
performance and, in some cases, may be identified by words like
"anticipate," "assume," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "plan," "potential," "predict,"
"project," "future," "will," "seek" and similar terms or phrases.
These statements are based on the Company’s beliefs and
assumptions, which in turn are based on information available as of
the date of this Current Report on Form 8-K. Forward-looking
statements involve known and unknown risks and uncertainties, which
could cause actual results to differ materially from those
contained in any forward-looking statement and could harm the
Company’s business, prospects, results of operations, liquidity and
financial condition and cause its stock price to decline
significantly. Many of these factors are beyond the Company’s
ability to control or predict. Important factors that could cause
the Company’s actual results to differ materially from those
indicated in the forward-looking statements include, among others:
the possibility that the conditions under the Credit Agreement are
not satisfied, including for reasons outside the Company’s control,
general economic conditions, including inflation, recession,
unemployment levels, spending patterns, credit availability and
debt levels, more stringent or costly payment terms and/or the
decision by a significant number of vendors not to provide services
to the Company on a timely basis or at all, the ability to monetize
the Company’s assets on acceptable terms, the ability to implement
the Company’s strategic plan, including any potential restructuring
initiatives, customer acceptance of the Company’s strategies, the
Company’s ability to attract, motivate and retain key executives
and other employees, the impact of cost reduction initiatives if
implemented, the Company’s ability to generate or maintain
liquidity, the Company’s shares are delisted from the Nasdaq Global
Select Market, potential litigation relating to the Credit
Agreement, risks relating to the substantial costs and diversion of
personnel’s attention and resources due to these matters and other
factors discussed in greater detail in the sections titled "Risk
Factors" in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2021 and subsequent Quarterly Reports on Form
10-Q and in other documents filed or furnished with the Securities
and Exchange Commission. As a result of these factors, actual
results may differ materially from those indicated or implied by
forward-looking statements. Given these uncertainties, you should
not place undue reliance on these forward-looking statements. These
forward-looking statements are made only as of the date hereof and
the Company undertakes no obligation to update or revise publicly
any forward-looking statements, except as required by law. New
factors emerge from time to time, and it is not possible for us to
predict all such factors.
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NantHealth Media Contact
Jen Hodson Jen@nant.com 562-397-3639
NantHealth (NASDAQ:NH)
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