March 14, 2017 18:13 ET
MONTREAL, QUEBEC--(Marketwired - March 14, 2017) - ZoomMed Inc. (TSX VENTURE:ZMD) announces the closing of a $500,000 financing agreement with Persistence Capital Partners II, L.P. The loan bears interest at 12 % per annum payable on a monthly basis and a set-up fee of $25,000. The loan is repayable under certain conditions on March 31, 2018. This loan will be used to provide working capital to fund operations of the Corporation.
"I am pleased to welcome this new investing partner who believes in ZoomMed's momentum and its ability to capitalize on the foundations it has built throughout the recent years", said Mr. Yves Marmet, President and Chief Executive of ZoomMed.
ZoomMed builds and operates "ZoomMed's communication network", a clinical information exchange platform between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations and private insurers. The cornerstone of this network is ZoomMed's "ZRx Prescriber", a technological innovative Web application that greatly simplifies the writing of a prescription for the physician. Since it is a stand-alone product, it can easily be integrated to any Electronic Medical Record application (EMR).
About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively focused on high-growth opportunities in the healthcare field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors by identifying and developing attractive investment opportunities in the Canadian healthcare market.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.
Mr. Yves MarmetPresident and Chief Executive Officer(450) 678-5457, Ext firstname.lastname@example.org
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