Beam Healthcare Lands Growth Funding from Decathlon Capital Partners
Transaction will fund expansion of the telemedicine company through a company-friendly, revenue-based funding agreement
MADISON, WI (PRWEB) FEBRUARY 28, 2023
Beam Healthcare, an early advocate of telemedicine, has landed a significant investment from Decathlon Capital Partners. Details of the revenue-based funding investment were not disclosed.
Beam Healthcare, headquartered in Madison, Wisconsin, will put the funding toward expanding into new geographic markets and continuing its investment into the development of enhanced patient care programs. Beam Healthcare provides telemedicine services across the country to healthcare organizations and employers of all sizes.
Dr. Sarjoo Patel, founder of Beam Healthcare and a practicing physician, utilized his OMIS (Operation Management Information System) background back in 2014 to tackle health equity head-on and question the status quo. Beam has been nationally and internationally recognized for its team and their impact. “We will continue to push the limits of digital health in serving the underserved and realizing our vision: healthcare, reimagined, without social or geographical boundaries,” Patel said.
Rob Dennison, Chief Financial Officer of Beam Healthcare, said the investment from Decathlon Capital Partners provides the company with a flexible solution to fund growth initiatives. “Decathlon’s funding allows us to continue to expand Beam Healthcare and our telemedicine services to healthcare organizations all over the country without giving up any ownership or control,” Dennison said. “We are excited to be working with Decathlon.”
John Borchers, Managing Director of Decathlon Capital Partners, said Beam Healthcare answers the healthcare problems of access, quality, and cost. “By leveraging technology and operational efficiencies, Beam Healthcare helps deliver quality care, regardless of location,” Borchers said. “We are confident that the company will continue to expand its telemedicine services and Decathlon is proud to be supporting the Beam Healthcare mission.”
About Beam Healthcare
Beam Healthcare is a clinical telemedicine company that strives towards positive change in patients’ lives, healthcare systems, and communities. By delivering specialty clinical telemedicine programs, Beam empowers communities anywhere through telehealth partnerships to expand services available at the local level, whether through outpatient or inpatient specialty services. Learn more at beam.healthcare.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at https://www.decathloncapital.com.
If you are looking for capital to accelerate your growth, we would love to talk.
DECATHLON INVESTMENT CRITERIA
Operating history of at least two years
Annual revenues between $4 million and $100 million
Annual growth rate of 10% or more
Attractive gross margins
Experienced management team
North America-based operations
Near-term visibility to cashflow-positive status