Silicon Valley Bank, financial partner to
technology and life science businesses and their investors worldwide, today
announced that it has provided Lincor Solutions Inc. , supplier of point of care
computing platforms and patient engagement technology, with a $3 million
equipment Line of Credit.
Lincor Solutions develops point of care
computing platforms for hospitals and healthcare delivery organisations. Its
platforms help hospitals to improve clinical data access, streamline
operational effectiveness and enhance the patient experience. It provides
secure, integrated access to clinical, picture archiving (PACS), medical
records and hospital management systems to hospital staff, as well as
multimedia entertainment, education and communications services for patients.
Lincor is active in 28 countries and its products are currently deployed in
more than 125 hospitals around the world.
Although historically based in Cork,
Lincor’s headquarters is now in Nashville, USA.
The new credit facility will be used to
invest in equipment as Lincor Solutions launches its Software-as-a-Service
(Saas) business in the US, and to support further expansion across EMEA.
Robert Brown, Chief Financial Officer,
Lincor Solutions Ltd said: “The launch of our SaaS business in the US is an
important step for us and this financing will enable us to fulfil our expansion
ambitions in this area. Silicon Valley Bank is a great fit for us because of
its deep understanding of the technology sector globally.”
Andrew Hunter, Vice President for Silicon
Valley Bank’s UK Branch, added: “Silicon Valley Bank is delighted to be working
with Lincor Solutions at this important stage in its growth. Lincor is
transforming hospital performance and we are looking forward to supporting the
business as it grows.”
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, venture
capital, private equity and premium wine businesses. SVB Financial Group
provides industry knowledge and connections, financing, treasury management,
corporate investment and international banking services to its clients
worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB)www.svb.com/uk
Silicon Valley Bank is authorised and
regulated by the California Department of Financial Institutions and the United
States Federal Reserve Bank; authorised by the Prudential Regulation Authority
with number 577295; and subject to regulation by the Financial Conduct
Authority and limited regulation by the Prudential Regulation Authority.
Details about the extent of our regulation by the Prudential Regulation
Authority are available from us on request.
About Lincor Solutions Ltd.
Lincor Solutions is the global leader in patient engagement technology. Through
its state-of-the-art LINC Technology platform, Lincor transforms the patient
experience by bringing interactive education, communication and entertainment
technology directly to the bedside. Empowering patients helps hospitals achieve
better patient engagement, satisfaction, and clinical outcomes.
Silicon Valley Bank – UK Branch
+44 (0)20 7367 7877