Flow Capital Announces Follow-On Investment in Stability Healthcare
TORONTO, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV: FW) (“Flow” or the “Company”) announces that it has completed a follow-on investment in Stability Healthcare Inc. (“Stability”), providing USD $425,000 in growth capital. Similar to Flow’s other royalty agreements, the financial terms include an indefinite term, monthly payments, and a buyout provision. In addition, Stability has issued to Flow Capital five-year warrants to purchase approximately 1% of the company.
Based in Los Angeles, California, Stability uses an online platform to match the supply of travel nurses with healthcare facilities that are in need of temporary nurses, significantly reducing placement times. The company has changed the way that the industry has historically operated by creating transparency in selecting travel assignments, and by releasing as much information upfront to nurses including compensation, travel expenses and placement facility details. For the past four years, Stability has been ranked on the Inc. 5000 fastest growing private companies list, making the top 500 list in 2015, 2016 and 2017.
“We are pleased to continue our support of Stability’s growth as the healthcare industry digitizes and as the nursing workforce shifts from Boomers to Millennials,” said Robb McLarty, Acting CEO of Flow Capital. “Our flexible, revenue-linked growth capital is helping Stability to achieve its goals, while offering a unique blend of cash flow yield and upside to Flow Capital and its shareholders.”
About Flow Capital
Based in Toronto, Flow Capital Corp. is a diversified alternative asset investor and advisor, operating two divisions: an investment operation providing revenue-linked capital to emerging growth businesses, and an institutional advisory sales platform providing pension funds, charities and endowment clients with access to leading institutional money managers from around the world. Learn more at www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Robb McLarty
Chief Executive Officer (Acting)
robb@flowcap.com
Phone: (416) 777-0383
1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9
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