LOS ANGELES, April 1, 2020 /PRNewswire/ -- B. Riley FBR,
Inc., a full-service investment bank and subsidiary of B. Riley
Financial, Inc. (NASDAQ:RILY), today announced it acted as
financial advisor and placement agent to TeleHealth Solution PLLC
("THS") in connection with its completed investment from New
Capital Partners ("NCP").
TeleHealth Solution provides turnkey telemedicine technology to
support the delivery of expert medical care in the acute care and
post-acute care setting by providing access to board certified
physicians, and the virtual evaluation and treatment of patients in
skilled nursing facilities, assisted living facilities, continuing
care retirement communities, and rural critical access
hospitals.
"We are pleased to have served as an advisor and placement agent
to TeleHealth Solution in its investment from NCP. With
telemedicine on the forefront of the current
global COVID-19 pandemic, the successful execution of
this transaction could not come at a more important time," said
Andy Moore, Chief Executive Officer,
B. Riley FBR.
THS was seeking growth capital for a nationwide rollout to
accelerate onboarding and implementation, regionalize staffing,
invest in its infrastructure (benefits, IT, C-Suite), procure
equipment for inventory, support customer acquisition via sales and
marketing hires, and R&D including app development. Changes in
reimbursement have created significant demand for telemedicine in
the post-acute setting and THS needed to scale to meet demand.
"B. Riley FBR's Healthcare team worked diligently throughout
this process and was critical to the success of the transaction.
The team coordinated and communicated with our legal and accounting
advisors, as well as negotiated and structured a mutually
beneficial outcome for THS and NCP," said TeleHealth Solution's CEO
and Co-Founder Waseem Ghannam. "This
was our first time through this type of process, and we could not
be more pleased with the performance of the entire B. Riley team. I
would definitely work with them again."
New Capital Partners is a private equity firm comprised of
former operators headquartered in Birmingham, Ala. NCP makes investments in
niche technology and services companies in the healthcare,
financial and business services industries.
About B. Riley FBR
B. Riley FBR is a full-service investment bank which provides
corporate finance, research and sales and trading to corporate,
institutional and high net worth individual clients. Investment
banking services include initial, secondary and follow-on
offerings, institutional private placements and merger and
acquisitions advisory services, and corporate restructuring. The
firm is nationally recognized for its highly ranked proprietary
equity research. B. Riley FBR is a subsidiary of B. Riley Financial
(NASDAQ:RILY). To learn more, visit www.brileyfbr.com.
Media Contact:
Jo Anne McCusker
B. Riley Financial
jmccusker@brileyfin.com
(646) 885-5425
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SOURCE B. Riley FBR, a B. Riley Financial company