Specialists On Call, Inc. Raises $50 Million in Capital
Financing to Accelerate Growth of the Business Through Investments and Acquisitions
Reston, VA – September 8, 2016 – Specialists On Call, Inc. (“SOC”), the nation’s leading provider of clinical telemedicine services to acute care hospitals, today announced that it has raised $50 million in new capital through a combination of equity and a credit facility from CRG, a healthcare-focused investment firm delivering pioneering growth capital solutions to the global healthcare market. SOC intends to use the funds to accelerate its robust organic growth and actively pursue strategic acquisition opportunities.
“We are pleased to have the support of our investors and CRG to reinforce our company’s strong financial foundation and its continued path of significant growth,” said Mr. Hammad Shah, CEO of Specialists On Call. “This new capital will provide us with enhanced flexibility as we pursue our strategic initiatives and continue to positively impact patient care through increased investments that expand our capabilities, while increasing value to our clients.”
To improve patient care through increased access to qualified specialists, the company recently launched a turnkey, technology-enabled operational platform for hospitals, clinics and health systems seeking to build their own telemedicine program. This Managed Services solution offers SOC’s clients the only holistic telemedicine solution that can leverage SOC’s world-class network of physicians, the client’s own in-house staff, or a hybrid of the two.