FARMINGTON, Conn. and BURLINGTON, Mass., July 11, 2017 /PRNewswire/ -- Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon") ("Company"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries, announced today it has closed a venture loan facility to HealthEdge Software, Inc. ("HealthEdge").
HealthEdge is focused on providing next-generation technology products to the health insurance market. The company is majoritively backed by Psilos Group Managers, LLC, an investment firm specializing in companies operating in the healthcare economy. HealthEdge will use the proceeds for general working capital purposes.
"We are excited to provide this venture loan facility for HealthEdge," said Gerald A. Michaud, President of Horizon. "HealthEdge's innovative software suite provides health insurers with scalable, flexible technology that can either fully replace or augment legacy technology, satellite systems and manual processes. This capital will help support HealthEdge's future growth as the rapidly changing dynamics of the healthcare industry continue to drive demand for its products and services."
Steve Krupa, CEO of HealthEdge, stated, "With their experience in lending to healthcare and technology companies, Horizon was able to structure a financing facility that met our specific needs. Horizon's growth capital will strengthen our ability to deliver ground-breaking technology solutions to regional and national health plans that better positions them in the new healthcare economy."
About Horizon Technology Finance
Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and cleantech industries. The investment objective of Horizon is to maximize its investment portfolio's return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon has regional offices in Pleasanton, California, Reston, Virginia and Boston, Massachusetts. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN". To learn more, please visit www.horizontechfinance.com.
HealthEdge provides modern, disruptive healthcare IT solutions that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs and connect everyone in the healthcare delivery cycle. Our next-generation enterprise solution suite, HealthRules®, is built on modern, patented technology and is delivered to customers via the HealthEdge Cloud or onsite deployment. An award-winning company, HealthEdge empowers health insurers to capitalize on the innovations, challenges and opportunities that await in the new healthcare economy. For more information, visit www.healthedge.com.
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Horizon Technology Finance Corp