Square 1 Bank Announces Credit Facility to Halcyon Healthcare

DURHAM, N.C.--(BUSINESS WIRE)--Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a credit facility to Halcyon Healthcare, a company formed to deliver the next generation of home health and hospice care solutions. Proceeds of the credit facility will be used to support the company’s organic growth, and provide working capital to fund future acquisitions.

“Square 1 was a true partner throughout the process. They understood our business model and were willing to be creative in order to meet our objectives”

Based in Atlanta, Halcyon Healthcare focuses on building a best-in-class home health care platform while providing high-quality, cost-effective services and information through its two brands, Halcyon Hospice and Halcyon Home Health. The company was launched in December 2010 in partnership with Health Evolution Partners Growth Fund, and is led by its co-founders, Dan Kohl, chief executive officer, and Jack Draughon, chief development officer.

“We are pleased to offer the flexibility and support Halcyon needs as the company continues its growth and expansion,” said Evan Travis, assistant vice president in Square 1 Bank’s Southeast Life Sciences division.

“Square 1 was a true partner throughout the process. They understood our business model and were willing to be creative in order to meet our objectives,” said Jeff Nickell, chief financial officer. “The outcome was a facility that will meet our needs for the foreseeable future.”

Mara Huntington, senior vice president in Square 1’s Life Sciences group, added, “We are very impressed with Halcyon’s management team and look forward to developing a long and productive relationship as they continue to build an industry-leading hospice care and home health company in the southeast.”

About Square 1 Bank

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients’ needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.

About Halcyon Healthcare

Halcyon Healthcare will be the leader in delivering the highest quality, cost effective home health services and information that result in improved clinical outcomes and peace of mind for the patient. For more information contact Dan Kohl ([e-mail]) or Jack Draughon ([e-mail]).