DrFirst, a provider of software solutions for physicians and healthcare providers ranging from HIPAA secure messaging, e-prescribing, and EHR (Electronic Health Records), has structured a new USD17 million commercial financing facility with SunTrust Banks, Inc. With this fresh capital, DrFirst extends its strategic association with SunTrust Banks, a partnership which initially began in the year 2015. As part of the deal, DrFirst will work to further expand its operational and development efforts for initiatives targeting the pharma and consumer sectors.
Ahead of this announcement, DrFirst President G. Cameron Deemer said that 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. He further stated that 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, Deemer added.
Seated in Rockville, Maryland, DrFirst.com, Inc. offers software solutions and services for healthcare providers, hospitals, and pharmacies in the US. The company has a range of products, including Backline, a secure text messaging solution; Electronic Prescribing for Controlled Substances (EPCS) Gold, a solution that enables clinical prescribers to electronically write prescriptions for controlled substances; and Healthcare Solutions Group, a consultation service for medication database.
Incorporated in 1999, DrFirst also provides MedHx that advances medication reconciliation; PatientAdvisor, a medication adherence program for physicians and EHR/EMR/HIS systems; SmartStrings, a predictive data for one-click E-prescribing medication strings; Rcopia, an e-prescribing software; and SmartSearch, a predictive medication ranking for efficient E-prescribing workflows.