Turning Rock Partners, a private investment firm based in New York, announced the close of a $45 million senior secured credit facility to support the medical technology solutions provider MedShift. MedShift is a founder owned and led company based in Charlotte, NC and founded in 2015.
Turning Rock’s structured loan to the company was contributed as part of a broader $108M financing round led by management and existing shareholders. Turning Rock Partners targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape.
“Turning Rock was able to provide a structured debt solution to support the company’s growth,” said Turning Rock Senior Managing Director Erin Andrew. “Our capital investment and insights helped develop a strong working relationship with the management team of the innovative and tech-enabled medical equipment business and set them up for continued growth. We thank all the parties involved for a successful outcome. Notably, we also wanted to thank our Senior Advisors on the deal, Alex Jung and Dan Nalawade, who provided invaluable insights on the business.”
“We thank Turning Rock for its support and for being an engaged partner during this period of growth,” said MedShift Executive Chairman and Co-Founder Brian Phillips. “Turning Rock’s appreciation for high growth, technology focused businesses was paramount in our decision to partner.”
For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.
About Turning Rock Partners:
Turning Rock Partners (TRP) targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America. TRP structures bespoke financing solutions for companies across the private market landscape. For more information, please visit Turning Rock Partners’ website: www.turningrockpartners.com. For Turning Rock investor relations, please contact investor@turningrockpartners.com.
About MedShift:
MedShift, a medical technology company founded in 2015 and headquartered in Charlotte, NC, is an emerging leader in the healthcare industry. MedShift is one of the largest and fastest growing solution providers to the aesthetic industry and is differentiated by its technology and software as a service focus. The company brings opportunities to drive growth and scale to medical device manufacturers as well as individual medical providers across various markets, including Dermatology, Gynecology, Plastic Surgery, and MedSpa. MedShift’s business is centered around three technology divisions, Specialty Device Subscription, Connected Medical Device (IoT), and the Velocity Technology Suite (Enterprise Software as a Service), and a range of complementary products and services that streamline the complex supply-and-demand landscape of device consumables and injectables. MedShift’s mission is to drive business transformation and power sales through the use of modern technology. The company currently has partnered with 25 aesthetic manufacturers and distributors, a portfolio of 80+ devices and over 2,000 active medical providers.
